PROPERTY:
Fernwood Dr, Upper Marlboro, MD 20774
DESCRIPTION:
- Purchase price is $240,000 and construction costs are $5,000.
- Cash to close is $0
- Holding $5,000 of the funds which will be reimbursed upon completion of project
- Experience in rehabbing, prior client.
- Chris & Jason are co-guarantors.
PROPOSED TERMS:
Loan Type: | Purchase Construction – JV |
Loan Amount: | $260,000 1st Mortgage |
Value of Subject Property: | $325,000 |
Loan to Value: | 80% |
Term requested: | 12 Month Balloon |
Exit Strategy: | Resell property |
Credit Score | 693 |