PROPERTY:

Evergreen Ave,  Baltimore,  MD 21214

DESCRIPTION:

  • Purchase price is $83,500 and construction costs are $40,000.
  • Cash to close is $0
  • Holding $40,000 of the funds which will be reimbursed upon completion of project
  • Experienced borrower.  Jason and Chris are co-guarantors.

PROPOSED TERMS:

Loan Type: Purchase construction
Loan Amount: $135,000 1st Mortgage
Value of Subject Property: $240,000
Loan to Value: 57%
Term requested: 12 Month Balloon
Exit Strategy: Resale
Credit Score 720