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Cape Coral Florida New Construction Hard Money Loan

Address: Cape Coral, FL
Borrower Profile: Repeat Borrower & Experienced Investor
Work Description: New Construction – Single-Family
Purchase Price: $11,700
Renovation Budget: $266,968 (Construction)
Loan Amount: $250,500
Cash Available for Purchase: $0
Cash Available for Renovation: $250,500 (Construction)
Loan Structure: 12 Months Interest Only
Loan Purpose: New Construction
ARV: $340,000

Asset Based Lending recently funded a new construction hard money loan in Cape Coral FL. The borrower is a repeat borrower and highly experienced real estate investor. The property was purchased for $11,700 with a construction budget of $266,968 and total loan funded at 90% LTC. The proposed build is a 3-bedroom, 2-bathroom single-family detached measured at 1,653 square feet. The home will feature tile floors throughout, 9-foot-high ceilings, and an asphalt shingle roof. Kitchen will be highlighted by raised panel cabinets, dovetail design, granite countertops, stainless steel appliances, and high-end finishes. Baths will feature custom tile from floor to ceiling. Home will also include an in-ground outdoor pool with a screen enclosure.

Hard money construction loans Cape Coral FL
Florida hard money lending
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