800.883.8290PROPERTY:
Sparks St, Philadelphia,, PA 19141
Lehigh Ave, Philadelphia, PA 19132
DESCRIPTION:
- We are doing a $45,000 bridge loan against this property which the borrower just paid $34,000 cash for in January 2016.
- Properties are owned free and clear and the proceeds will be used towards completing the Sparks St project.
- $19,000 cash back at closing.
- We are holding $18,000 of the funds which will be reimbursed upon completion of project.
PROPOSED TERMS:
| Loan Type: | Refinance Construction |
| Loan Amount: | $45,000 1st Mortgage |
| Value of Subject Property: | $100,000 |
| Loan to Value: | 45% |
| Term requested: | 9 Month Balloon |
| Exit Strategy: | Resell property |
| Credit Score | 678 |
