PROPERTY: 

Calvert Towne Dr, Prince Frederick,  MD  20678

DESCRIPTION:

  • Purchase price is $85,000 and construction costs are $20,000.
  • Cash to close is $42,000.
  • Holding $20,000 of the funds which will be reimbursed upon completion of project

PROPOSED TERMS:

Loan Type: Purchase Construction
Loan Amount: $70,000 1st Mortgage
Value of Subject Property: $110,000
Loan to Value: 64%
Term requested: 12  Month Balloon
Exit Strategy: Resale
Credit Score  616