PROPERTY: 

Indian Head Ave, Indian Head,  MD  20640

DESCRIPTION:

  • Purchase price is $68,250 and construction costs are $18,000.
  • Cash to close is $19,000.
  • Holding $18,000 of the funds which will be reimbursed upon completion of project

PROPOSED TERMS:

Loan Type: Purchase Construction
Loan Amount: $80,000 1st Mortgage
Value of Subject Property: $130,000
Loan to Value: 62%
Term requested: 12 Month Balloon
Exit Strategy: Resale
Credit Score  574