800.883.8290PROPERTY:
Nannie Helen Burroughs Ave, NE, Washington, DC 20019
DESCRIPTION:
- Purchase price is $92,000 and construction costs are $75,000.
- Cash to close is $41,000
- Holding $75,000 of the funds which will be reimbursed upon completion of project
- Experienced real estate investor with over 15 deals done so far; borrower has been in R/E for over 25 yrs
PROPOSED TERMS:
| Loan Type: | Purchase Construction |
| Loan Amount: | $140,000 1st Mortgage |
| Value of Subject Property: | $240,000 |
| Loan to Value: | 58% |
| Term requested: | 9 Month Balloon |
| Exit Strategy: | Resell property |
| Credit Score | 602 /692 |
