PROPERTY: 

44th  St, NE Washington, DC  20019

DESCRIPTION:

  • Purchase price is $105,555 and construction costs are $20,000.
  • Cash to close is $14,000.
  • Holding $15,000 of the funds which will be reimbursed upon completion of project
  • Prior client.

PROPOSED TERMS:

Loan Type: Purchase Construction
Loan Amount: $125,000 1st Mortgage
Value of Subject Property: $325,000
Loan to Value: 40%
Term requested: 12 Month Balloon
Exit Strategy: Resell property
Credit Score  723 / 668