Situation:

Asset Based Lending recently funded a new construction hard money loan in Sicklerville NJ. The borrower is an experienced real estate investor that has worked with ABL on previous deals. The property was purchased for $89,900 with a construction budget of $624,150 and total loan funded at 79% LTC. The home will feature an unfinished basement, soft-close wood cabinets, quartz or granite countertops, master bedroom with walk-in-closet including his & her bathroom, and more. Construction is expected to take approximately 4-5 months with final sale occurring shortly after.