PROPERTY:

Nast Dr, Cheltenham, MD 20623

DESCRIPTION:

  • Purchase price is $152,500 and construction costs are $40,000.
  • Cash to close is $33,500
  • Holding $40,000 of the funds which will be reimbursed upon completion of project
  • Experience in rehabbing, prior client.

PROPOSED TERMS:

Loan Type: Purchase construction
Loan Amount: $175,000 1st Mortgage
Value of Subject Property: $260,000
Loan to Value: 67%
Term requested: 9 Month Balloon
Exit Strategy: Resell property
Credit Score 630