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Miami Florida New Construction Hard Money Loan

Address: Miami, FL
Purchase Price: $635,000
Renovation Budget: $500,000
Loan Amount: $800,000
Loan Structure: 12 months interest only
Loan Purpose: New Construction
ARV: $1,800,000
New Construction Hard Money Loan In Miami Florida

Situation:

Asset Based Lending recently funded a hard money loan for a new construction project in Miami Florida. The borrower is a general contract with experience building and selling houses in the area. The house will be a 5 bedroom, 2 bathroom residence with a 2 car garage and pool.