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Hard Money Construction Loan In Fairfield Connecticut

Address: Fairfield, CT
Borrower Profile: Repeat Borrower & Experienced Investor
Work Description: New Construction - Single Family
Purchase Price: $325,000
Renovation Budget: $500,000 (Construction)
Loan Amount: $660,000
Cash Available for Purchase: $160,000
Cash Available for Renovation: $500,000 (Construction)
Loan Structure: 12 Months Interest Only
Loan Purpose: Land Purchase And New Construction
ARV: $1,095,000
Sale Price: $1,175,000
Time To Pay Off: 11 Months
Exterior – Before
Exterior – After


Borrower is a professional husband and wife team made up of an experienced home builder and professional realtor that has funded 6 prior projects with ABL. They have built this style of Colonial several times in the Fairfield area and each time has been a huge success. This particular hard money construction loan was structured to finance a project that consisted of a $325,000 purchase price, $500,000 cost to build, with an approximated ARV of $1,095,000. The loan amount was structured at 80% Loan To Cost. The plans call for this house to be a 4,351 square foot colonial with 5 bedrooms and 4.5 bathrooms on a 1/2 acre lot including an unfinished basement with 9ft ceilings, an open floor plan throughout, high end finishes, moldings, and coffered ceilings. The 3rd floor will also feature a loft-style bedroom and full bath.


The home was completed on time and turned out beautifully. The investor sold the home for nearly $100,000 more than the original expected ARV and paid off loan early with no prepayment penalty, marking another success.