PROPERTY:

Georgia Ave, NW -Lot 37 ,Washington, DC  20011

DESCRIPTION:

  • Purchase price is $263,000 and construction costs are $200,000.
  • Cash to close is $27,600
  • Holding $200,000 of the funds which will be reimbursed upon completion of project
  • Extensive experience in rehabbing

PROPOSED TERMS:

Loan Type: Purchase construction
Loan Amount: $463,000 1st Mortgage
Value of Subject Property: $750,000
Loan to Value: 62%
Term requested: 12 month Balloon
Exit Strategy: Resell property
Credit Score