PROPERTY:

Irving St, NW, Washington, DC  20002

DESCRIPTION:

  • Purchase price is $317,000 and construction costs are $50,000.
  • Cash to close is $82,000
  • Holding $50,000 of the funds which will be reimbursed upon completion of project
  • Experience in rehabbing / great credit

PROPOSED TERMS:

Loan Type: Purchase Construction
Loan Amount: $310,000 1st Mortgage
Value of Subject Property: $482,500
Loan to Value: 64%
Term requested: 9 Month Balloon
Exit Strategy: Resell property
Credit Score 728