PROPERTY:

James Farmer Way, Capitol Heights,   MD 20743

DESCRIPTION:

  • Purchase price is $89,900 and construction costs are $40,000.
  • Cash to close is $38,000
  • Holding $40,00 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: $218,000
Loan to Value: 49%
Term requested: 9 Month Balloon
Exit Strategy: Resell property
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