201-942-9089 info@abl1.net

Cedar Hill Texas Hard Money New Construction Loan

Address: Cedar Hill, Texas
Borrower Profile: First-Time Borrower — Experienced Real Estate Developer
Work Description: New Construction — Single Family
Purchase Price: $122,500
Renovation Budget: $714,000 (Construction)
Loan Amount: $752,000
Cash Available for Purchase: $38,000
Cash Available for Renovation: $714,000 (Construction)
Loan Structure: 12 months interest only
Loan Purpose: Cash Out Refinance & New Construction
ARV: $1,400,000
Texas Hard Money Loan
Cedar Hill New Construction Loan

­­­Asset Based Lending recently funded a cash out and new construction loan for an experienced builder in in Cedar Hill Texas. This borrower is a high-grade builder focusing on single-family homes in the Dallas area. Having successfully completed projects like this one in recent years, ABL extended a loan amount of $752,000 which equates to 90% LTC. Of the $752,000 loan, $714,000 will be used for construction of this single-family home. The scope of work for this project includes the construction of a 2-story home as well as a guest house. The main house features a 3-car garage, 5 bedrooms and 4 and a half bathrooms. The first floor has an open plan kitchen and living room. The kitchen will have custom white oak cabinets, quartz countertops, and an island with a double sink. The main bathroom will be finished with a large soaking tub, a tiled shower stall, double vanity, and private toilet room. The remaining bedrooms and bathrooms will be on the second floor, and each will feature a large closet. Once construction is complete in 10 months the borrower will list this project for final sale.

Cedar Hill Hard Money Loan
TX New Construction Loan