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Cape Coral Florida New Construction Loan

Address: Cape Coral, FL
Borrower Profile: Repeat Borrower & Experienced Builder
Work Description: New Construction - Single Family
Purchase Price: $54,900
Renovation Budget: $343,448 (Construction)
Loan Amount: $338,500
Cash Available for Renovation: $338,500 (Construction)
Loan Structure: 12 Months Interest Only
Loan Purpose: New Construction
ARV: $539,000
Situation:

Asset Based Lending recently funded a hard money new construction loan in Cape Coral FL for a repeat borrower with extensive real estate investing experience. The parcel of land was purchased for $54,900 with a construction budget of $343,448 and a total loan funded at nearly 85% LTC. The subject property is set to be a 3-bedroom, 3-bathroom single-family measured at a total of 3567 ft.┬▓ with 2162 ft.┬▓ under air. The borrower has used this identical build for two other properties that ABL funded. Kitchen will be highlighted by 12-foot-high tray ceilings with high-end finishes, granite countertops, and custom cabinets. Each bathroom will feature its own unique tiling. Master bedroom will include two separate walk-in closets. Home will include a finished den. Property will also include an outdoor pool and be situated close to the nearby canal.

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