January Loan Highlights

2019 is off to a great start! With the new year came a new batch of borrowers eager to get their construction projects underway and start building wealth. Here’s a look at some of the recently funded new construction and fix and flip loans from last month, highlighting projects closed in North Carolina and Pennsylvania.

The borrower will use loan funds to build two new-construction single-family residences in a suburban neighborhood. The lots was acquired for $47,900 each and the borrower will build with a total budget of $560,000. At completion, the properties are expected to be worth $980,000.

The borrower will use loan funds to build a new-construction single-family residence in a suburban neighborhood. The lot was acquired for $483,333. The borrower has completed approximately $330,000 of prior construction and the has a remaining budget of $350,000. At completion, the property is expected to be worth $1,439,000. The borrower has also pledged a 33-acre parcel of land as additional collateral.

The borrower will use loan funds to renovate a single-family residence in a suburban neighborhood. The property was acquired for $475,000. The borrower will complete approximately $15,000 of renovations, at which time the property is expected to be worth $665,000.