PROPERTY:

Durango Dr, Lusby, MD  20657

DESCRIPTION:

  • Purchase price is $22,000 and construction costs are $65,000.
  • Cash to close is $16,000
  • Holding $65,000 of the funds which will be reimbursed upon completion of project
  • Prior client.

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: Resell property
Credit Score 781