Hillsborough NJ New Construction Hard Money Loan
Address: Hillsborough, NJ
Borrower Profile: Experienced Investor
Purchase Price: $220,000
Renovation Budget: $400,000
Loan Amount: $527,000
Loan Structure: 12 months interest only
Loan Purpose: New Construction
ARV: $819,000
Situation:
This borrower is an experienced real estate investor that has successfully completed several local fix and flip projects, and came to ABL for a hard money loan in order to fund his first New Construction deal. The plan for the project is to essentially tear down the existing house to the foundation and build a new house on top, adding a 2nd level and 900 square feet.
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