PROPERTY: 

Machias Pl, Baltimore, MD    21220

DESCRIPTION:

  • Purchase price is $62,000 and construction costs are $33,000.
  • Cash to close is $14,000.
  • Holding $33,000 of the funds which will be reimbursed upon completion of project
  • Bank statement provided with over $39,000 showing.

PROPOSED TERMS:

Loan Type: Purchase Construction
Loan Amount: $90,000 1st Mortgage
Value of Subject Property: $185,000
Loan to Value: 49%
Term requested: 12 Month Balloon
Exit Strategy: Resell property
Credit Score  643 / 653