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Hard Money Loan For Fix And Flip In Westfield NJ

Address: Westfield, NJ
Borrower Profile: Repeat Borrower & Experienced Investor
Work Description: Fix & Flip - Single Family
Purchase Price: $425,000
Renovation Budget: $70,000
Loan Amount: $431,000
Cash Available for Purchase: $361,000
Cash Available for Renovation: $70,000
Loan Structure: 12 Months Interest Only
Loan Purpose: Fix And Flip Loan
ARV: $675,000
Situation:

Asset Based Lending recently funded a hard money fix and flip loan in Westfield NJ for a repeat borrower and experienced real estate investing team. The property was purchased for $425,000 with a renovation budget of $70,000 and total loan funded at 87% LTC. Our borrower has completed several round-trip projects, so they qualify for our higher LTV program. The property is a 4 bedroom, 2 bath single-family home measured at 1975 square feet that will undergo mostly cosmetic renovations, including modern layout changes for the kitchen and upgrading a half bath into a full bath. Many of our borrowers are repeat borrowers due to the fast closing times and flexible loan options we make available to investors. ABL is proud to offer the most reliable hard money loans for real estate investors in New Jersey and elsewhere.

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