PROPERTY: 

Capitol View Ave, Silver Spring,  MD  20910

DESCRIPTION:

  • Purchase price is $325,000 and construction costs are $100,000.
  • Cash to close is $125,000.
  • Holding $100,000 of the funds which will be reimbursed upon completion of project

PROPOSED TERMS:

Loan Type: Purchase Construction
Loan Amount: $325,000 1st Mortgage
Value of Subject Property: $500,000
Loan to Value: 63%
Term requested: 12  Month Balloon
Exit Strategy: Resale
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