Bronx New York Hard Loan For Property Purchase
Address: Bronx, NY
Borrower Profile: Real Estate Professional
Purchase Price: $668,000
Loan Amount: $410,000
Loan Structure: 12 months interest only
Loan Purpose: Property Purchase
ARV: $635,000
Situation:
This borrower is a full time real estate broker and investor, using Asset Based Lending to fund the purchase of bank-owned multi-family unit in the Bronx. The investor needed to close in less than 10 days, and plans to refinance out of the loan and hold the property for rental income.
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