Sanford Florida Hard Money Loan For New Construction
Address: Sanford, FL
Borrower Profile: Experienced Investor & Builder
Work Description: New Construction - Single Family Home
Purchase Price: $120,000
Renovation Budget: $300,000 (Construction)
Loan Amount: $336,000
Cash Available for Purchase: $36,000 (Cash Out)
Cash Available for Renovation: $300,000 (Construction)
Loan Structure: 12 Months Interest Only
Loan Purpose: Cash Out And New Construction
ARV: $560,000
Situation:
This experienced builder and real estate investor came to Asset Based Lending by way of another lender who was unable to fund this project. ABL is happy to finance this hard money loan for new construction to cash out the investor on the land he purchased and provide 100% of the construction financing. The scope of work for this new construction project includes building a 3,200 square foot 3 bedroom 3 bathroom home with an upscale finish including modern amenities.
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