PROPERTY:

Wengate Rd,  Owings Mills, MD  21117

 

 

DESCRIPTION:

  • Purchase price is $90,000 and construction costs are $30,000.
  • Cash to close is $27,000
  • Holding $30,000 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: $189,000
Loan to Value: 56%
Term requested: 9 Month Balloon
Exit Strategy: Resell property
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