PROPERTY:

Carroll Rd,  Pasadena,  MD 21144

DESCRIPTION:

  • Purchase price is $70,000 and construction costs are $135,000.
  • Cash to close is $29,000
  • Holding $135,000 of the funds which will be reimbursed upon completion of project
  • Prior client with rehab experience.

 

PROPOSED TERMS:

Loan Type: Purchase Construction
Loan Amount: $190,000 1st Mortgage
Value of Subject Property: $290,000
Loan to Value: 66%
Term requested: 12 Month Balloon
Exit Strategy: Resell property
Credit Score 693