PROPERTY: 

W Hammaker St, Frederick,   MD   21788

 

DESCRIPTION:

  • Purchase price is $107,000 and construction costs are $11,000.
  • Cash to close is $24,000
  • Holding $11,000 of the funds which will be reimbursed upon completion of project.

 

PROPOSED TERMS:

Loan Type: Purchase Construction
Loan Amount: $105,000 1st Mortgage
Value of Subject Property: $155,000
Loan to Value: 68%
Term requested: 9 Month Balloon
Exit Strategy: Resell property
Credit Score  662