PROPERTY:

Briggs Chaney Rd,  Silver Spring, MD  20905

DESCRIPTION:

  • Purchase price is $360,000 and construction cost are $40,000.
  • We are holding $40,000 of the funds which will be reimbursed upon completion of project.
  • Cash to close is $80,000
  • Experienced clients – have done several deals in the past.
  • PROPOSED TERMS:
Loan Type: Purchase Construction
Loan Amount: $325,000 1st Mortgage
Value of Subject Property: $500,000
Loan to Value: 65%
Term requested: 12 Month Balloon
Exit Strategy: Resale
Credit Score  673