PROPERTY:

Freeway, Baltimore, MD 21227

DESCRIPTION:

  • Purchase price is 55,000  and construction costs are $8,000.
  • Borrower’s cash to close is $11,000
  • Holding $8,000 of the funds which will be reimbursed upon completion of project

PROPOSED TERMS:

Loan Type: Purchase construction
Loan Amount: $60,000 1st Mortgage
Value of Subject Property: $109,000
Loan to Value: 56%
Term requested: 12 Month Balloon
Exit Strategy: Refinance / hold
Credit Score  684