PROPERTY:

Elmtree Ave,  Baltimore,  MD 21226

Spruce Ave, Baltimore, MD  21226

Norland Rd, Baltimore, MD  21230

DESCRIPTION:

  • Purchase price is $45,000 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
  • Experience borrower.  Jason and Chris are co-guarantors.

PROPOSED TERMS:

Loan Type: Purchase construction
Loan Amount: $145,000 1st Mortgage
Value of Subject Property: $250,000
Loan to Value: 58%
Term requested: 12 Month Balloon
Exit Strategy: Resell property
Credit Score 720

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