Recent Transactions
Construction of a Residential Home in Saugus
County Mortgage, LLC closed a loan worth 275,000 for construction of a residential home in Saugus, Massachusetts. The loan, secured by a first mortgage, was for a twelve month term. Two points went to County Mortgage and two points went to a broker at the closing. An appraisal of the property, subject to completion, valued the home at 485,000, making the loan a 57% LTV. The borrower came to County Mortgage to buy the lot for construction. The lot cost $125,000 and would be an additional $225,000 to construct.
Construction of a Colonial Commercial Building in Somerville
County Mortgage, LLC provided 1,300,000 in funding for the construction of a commercial building in Somerville, Massachusetts. The loan, secured by a first mortgage, was for a twelve month term. The origination fee to County Mortgage was one percent of the loan. The LTV of the loan is 55%. The lot cost and 560,000 went towards the construction of the building.
Funding for a Commercial Building in Randolph
County Mortgage provided 300,000 in funding for an owner occupied commercial building in Randolph, Massachusetts. The loan was secured by a first mortgage and is for a thirty year term. Two points went to County Mortgage and two points went to a broker at the closing. The appraisal value of the building was 562,000 – the LTV was 53%.
