800.883.8290PROPERTY:
Bel Air Rd, Kingsville, MD 21087
DESCRIPTION:
- 3 unit commercial building that contains a liquor store, rental apt ($1,000 /monthly income) and a separate office ($1,000 /monthly income)
- Purchase price is $316,000.
- Cash to close is $114,000.
- His family has run the liquor store in the building for the last few years.
- His plan is to get his bank to refinance him, but he had to move quick b/c the seller was under time constraints
- PROPOSED TERMS:
| Loan Type: | Purchase |
| Loan Amount: | $220,000 1st Mortgage |
| Value of Subject Property: | $380,000 |
| Loan to Value: | 47% |
| Term requested: | 12 Month Balloon |
| Exit Strategy: | Refinance |
| Credit Score | 707 |
