201-942-9089 info@abl1.net

Ashburnham Massachusetts Hard Money Construction Loan

Address: Ashburnham, Massachusetts
Borrower Profile: Returning Borrower – Experienced Real Estate Investor
Work Description: New Construction - Single Family
Purchase Price: $45,000
Renovation Budget: $263,000
Loan Amount: $261,000
Cash Available for Purchase: $0
Cash Available for Renovation: $263,000
Loan Structure: 12 months interest only
Loan Purpose: Property New Construction Only
ARV: $490,000

Asset Based Lending recently funded a hard money new construction loan in Ashburnham, Massachusetts for a returning borrower and an experienced real estate investor. The property new construction was purchased for $45,000 with a loan amount of $261,000. The scope of work for this property includes a new roof, kitchen with shaker cabinets, granite countertops, subway style backsplash, and appliances. Refinish existing hardwood and laminate in the basement. Full remodel of both baths, new doors, painting, and plumbing. Investor plans to sell the property after the projected five-month construction timeline.