PROPERTY: 

Robinson Rd, Severna Park, MD  21146

DESCRIPTION:

  • Purchase price is $220,000 and construction costs are $30,000.
  • Cash to close is $22,000
  • Holding $30,000 of the funds which will be reimbursed upon completion of project
  • Experience in rehabbing. Prior client.

PROPOSED TERMS:

Loan Type:  Purchase Construction
Loan Amount:  $250,000 1st Mortgage
Value of Subject Property:  $400,000
Loan to Value:  63%
Term requested:  12 Month Balloon
Exit Strategy:  Sell property
Credit Score 742 / 584