West Palm Beach Florida Property Purchase Hard Money Loan
Address: West Palm Beach, FL
Borrower Profile: Repeat Borrower & Experienced Investor
Work Description: Purchase Only - Single Family
Purchase Price: $280,000
Renovation Budget: $0
Loan Amount: $210,000
Cash Available for Purchase: $210,000
Cash Available for Renovation:
Loan Structure: 12 Months Interest Only
Loan Purpose: Property Purchase Only
ARV: $290,000 (As Is)
Situation:
Asset Based Lending recently funded a property purchase hard money loan in West Palm Beach Florida. The borrower is a repeat borrower that is an experienced real estate investor. The property was purchased for $280,000 with total loan funded at 75% LTC. This loan is for the purchase of a single-unit 1-bedroom, 1.5-bathroom condo measured at 936 square feet. The borrower will either sell the unit for a profit or refinance the loan to continue holding it as an income-producing asset with our rental refinance program.
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