$275,000 1st TD 5 year note to be created, House in Pine Grove. New buyers. Sales price $550K they will put 50% down they need a 101/2% interest only with balance due in 5 years; An appraisal is on their business and home is available. The buyers also own a $600,000 home free and clear it is rented for $2K a month. They will allow both properties to be encumbered by this new note. These folks are looking for a quick answer. Loan to value ratio 50%.