201-942-9089 info@abl1.net

Union City NJ New Construction Hard Money Loan

Address: Union City, NJ
Borrower Profile: Experienced Investor
Purchase Price: $140,000
Renovation Budget: $260,000
Loan Amount: $320,000
Loan Structure: 12 months interest only
Loan Purpose: Cash Out And New Construction
ARV: $555,000

Situation:

Asset Based Lending recently funded a cash out and new construction hard money loan for experienced builders looking to build a multi-family property in Union City New Jersey. Since the borrowers had already purchased the property, ABL was able to give them cash out at the closing table and funds to the construction of the 3 story building.