PROPERTY:
Campus Way, Upper Marlboro, MD 20774
DESCRIPTION
- Purchase price is $82,500 and construction costs are $30,000.
- Cash to close is $29,000
- Holding $30,000 of the funds which will be reimbursed upon completion of project
- Borrower is an experienced real estate agent.
PROPOSED TERMS:
Loan Type: | Purchase Construction |
Loan Amount: | $95,000 1st Mortgage |
Value of Subject Property: | $165,000 |
Loan to Value: | 58% |
Term requested: | 12 Month Balloon |
Exit Strategy: | Resell property |
Credit Score | 673 |