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Rockwall Texas New Construction Loan

Address: Rockwall, TX
Borrower Profile: First Time Borrower — First Time Real Estate Investor
Work Description: New Construction — Single Family
Purchase Price: $225,000
Renovation Budget: $517,892 (Construction)
Loan Amount: $517,000
Cash Available for Purchase: $0
Cash Available for Renovation: $517,000
Loan Structure: 12 months interest only
Loan Purpose: Property New Construction Only
ARV: $825,000
Rockwall TX new construction loan
Hard money new construction loan TX
Situation:

Asset Based Lending recently funded a hard money new construction loan in Rockwall, Texas county. The borrower is a first time borrower and first time real estate investor. The proposed plan is for a single family 4-bedroom, 3.5-bathroom measured at 3,365 square feet. The property will be highlighted by high-end finishes, vinyl mosaic windows, 10-foot high ceilings, LVP floors, and solid core doors. Kitchen will feature stone counters, large island, white maple wood cabinets, and high-end stainless steel appliances. Bathrooms will feature tile floors, tub & shower combos, and dual vanities in the master bedroom. Project is expected to take up to eight months with final sale occurring shortly after completion.

Texas new construction loan
Rockwall TX construction loan