PROPERTY:

Hallock Dr,  Odenton,  MD 21113

DESCRIPTION:

  • Purchase price is $144,500 and construction costs are $30,000.
  • Cash to close is $0
  • Holding $30,000 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: $185,000 1st Mortgage
Value of Subject Property: $250,000
Loan to Value: 74%
Term requested: 12 Month Balloon
Exit Strategy: Resale
Credit Score 720