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Keene NH Property Purchase Hard Money Loan

Address: Keene, NH
Borrower Profile: First Time Borrower, Experienced Investor
Work Description: Purchase Only - Mixed Use
Purchase Price: $1,800,000
Renovation Budget: $0
Loan Amount: $1,530,000
Cash Available for Purchase: $1,530,000
Cash Available for Renovation: $0
Loan Structure: 12 Months Interest Only
Loan Purpose: Property Purchase Only
ARV: $2,720,000
Situation:

Asset Based Lending recently funded a property purchase only hard money loan in Keene NH. The borrower is a first-time borrower and experienced real estate investor. The property was purchased for $1,800,000 with total loan funded at 85% LTC. The borrower plans to keep the property as an income-producing asset once stabilized. The property is a mixed-use building that holds 25 residential units and 1 commercial unit. All necessary property rehab will come out of the borrower’s pocket and will be strictly cosmetic updates.

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