PROPERTY:

New Orchard Dr, Upper Marlboro, MD  20774

DESCRIPTION:

  • Purchase price is $155,000 and construction costs are $15,000.
  • Cash to close is $38,000
  • Holding $15,000 of the funds which will be reimbursed upon completion of project
  • This is the borrower’s first flip.

PROPOSED TERMS:

Loan Type: Purchase Construction
Loan Amount: $145,000 1st Mortgage
Value of Subject Property: $300,000
Loan to Value: 49%
Term requested: 12 Month Balloon
Exit Strategy: Resell property
Credit Score   691 / 760