PROPERTY: 

Sharon Rd Temple Hills,  MD  20748

DESCRIPTION:

  • Purchase price is $154,000 and construction costs are $25,000.
  • Cash to close is $26,000.
  • Holding $25,000 of the funds which will be reimbursed upon completion of project
  • Prior client.  Very experienced.

PROPOSED TERMS:

Loan Type: Purchase Construction
Loan Amount: $170,000 1st Mortgage
Value of Subject Property: $275,000
Loan to Value: 62%
Term requested: 12  Month Balloon
Exit Strategy: Resale
Credit Score  723 / 668