PROPERTY:

Ingleside Ave, Baltimore,  MD 21207

DESCRIPTION:

  • Purchase price is $126,000 and construction costs are $5,000.
  • Cash to close is $44,000
  • Holding $5,000 of the funds which will be reimbursed upon completion of project

PROPOSED TERMS:

Loan Type: Purchase construction
Loan Amount: $100,000 1st Mortgage
Value of Subject Property: $190,000
Loan to Value: 53%
Term requested: 9 Month Balloon
Exit Strategy: Resell property
Credit Score 654