Hard Money Loan For New Construction In Philadelphia PA
Address: Philadelphia, PA
Work Description: New Construction
Purchase Price: $116,000
Renovation Budget: $640,000
Loan Amount: $710,000
Loan Structure: 12 Months Interest Only
Loan Purpose: Land Purchase And New Construction
ARV: $1,200,000
Situation:
Asset Based Lending recently funded a hard money loan for the new construction of a 6 unit multi family property in Philadelphia PA. This borrower is exceptionally experienced, and plans to build both 3 bedroom and 1 bedroom units that will be rented out to students attending the university nearby.
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