PROPERTY: 

Chestnut Tree Dr,  Annapolis, MD  21409

 

DESCRIPTION:

  • Purchase price is $166,000 and construction costs are $60,000.
  • Cash to close is $0
  • Holding $60,000 of the funds which will be reimbursed upon completion of project
  • Experience in rehabbing; Chris and Jason are guarantors

PROPOSED TERMS:

Loan Type: Purchase Construction
Loan Amount: $250,000 1st Mortgage
Value of Subject Property: 350,000
Loan to Value: 72%
Term requested: 12 Month Balloon
Exit Strategy: Resell property
Credit Score 720