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Kennett Square PA Hard Money Loan For Purchase

Address: Kennett Square, PA
Borrower Profile: Repeat Borrower & Experienced Investor
Work Description: Purchase Only - Single Family
Purchase Price: $265,000
Renovation Budget: $0
Loan Amount: $224,000
Cash Available for Purchase: $224,000
Loan Structure: 12 Months Interest Only
Loan Purpose: Property Purchase Only
ARV: $320,000 (As-Is)
Situation:

Asset Based Lending recently funded a hard money purchase-only loan in Kennett Square, PA. The borrower is a repeat borrower and full-time real estate investor. The property was purchased for $265,000 and ABL funded nearly 85% of the purchase price with a loan of $224,000. The borrower plans on refinancing and holding the property as an income-producing asset through our rental refinancing program. This property is a single-family 4-bedroom, 2-bathroom measured at approximately 1350 square feet. The home recently received full renovation to the kitchen, bathroom, and roof and is ready to be rented ASAP.

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