PROPERTY:

Ardenwood Ter,  Crofton,  MD 21114

DESCRIPTION:

  • Purchase price is $107,000 and construction costs are $20,000.
  • Cash to close is $30,000
  • Holding $20,000 of the funds which will be reimbursed upon completion of project
  • Experienced borrower.

PROPOSED TERMS:

Loan Type: Purchase construction
Loan Amount: $110,000 1st Mortgage
Value of Subject Property: $180,000
Loan to Value: 62%
Term requested: 9 Month Balloon
Exit Strategy: Resell property
Credit Score 720