Situation:

Asset Based Lending recently funded a cash out refinance and new construction loan in Freehold Township NJ for a repeat borrower and professional developer. The project includes the construction of two homes funded at nearly 85% LTC with approximately $146,000 available to cash out. The homes will each be on a half-acre of land and consist of 4600 sq feet featuring 5 bedrooms, 4.5 bathrooms, and finished basements. These homes will be highlighted by granite kitchens, walnut stained floors, and sunny entranceways. Our borrower has worked with us several times before and is a full-time real estate investor and home builder. ABL is always happy to offer the most reliable new construction loans for experienced investors and repeat borrowers.