201-942-9089 info@abl1.net

Fairfield Connecticut New Construction Loan

Address: Fairfield, CT
Borrower Profile: Repeat Borrower — Experienced Real Estate Investor
Work Description: New Construction — Single-Family Detached
Purchase Price: $450,000
Renovation Budget: $565,100 (Construction)
Loan Amount: $880,000
Cash Available for Purchase: $314,900
Cash Available for Renovation: $565,100 (Construction)
Loan Structure: 12 months interest only
Loan Purpose: Land Purchase & Property New Construction
ARV: $1,350,000
Fairfield CT new construction loan
Hard money new construction loan CT

Asset Based Lending recently funded a hard money new construction loan in Fairfield Connecticut. The borrower is a repeat borrower and experienced real estate investor. The property was purchased for $450,000 with a construction budget of $565,100 and total loan funded at 87% LTC. The existing home will be torn down and the proposed build is for a single-family 5-bedroom, 4.5-bathroom measured at 4,700 square feet. This new construction project will be a modern farmhouse that features high-end finishes, shingle-roof, oak floors, and solid-wood doors. Other highlights will include kitchen with center island and Thermador appliances, bathrooms with unique tiling and dual vanities, and high-end molding throughout the home. Construction is expected to take between six and eight months with final sale occurring shortly after completion.

Direct hard money lender Connecticut
New construction loans Connecticut