PROPERTY: 

Race Rd, Elkridge,   MD  21075

DESCRIPTION:

  • Purchase price is $55,000 and construction costs are $110,000.
  • Cash to close is $40,000.
  • Holding $110,000 of the funds which will be reimbursed upon completion of project
  • PROPOSED TERMS:
Loan Type: Purchase Construction
Loan Amount: $140,000 1st Mortgage
Value of Subject Property: $240,000
Loan to Value: 64%
Term requested: 12  Month Balloon
Exit Strategy: Resale
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