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Knoxville Tennessee New Construction Loan

Address: Knoxville, TN
Borrower Profile: First-Time Borrower — Full-Time Real Estate Investor
Work Description: New Construction — Four Identical Single-Family Homes
Purchase Price: $85,000
Renovation Budget: $680,000 (Construction)
Loan Amount: $650,000
Cash Available for Purchase: $0
Cash Available for Renovation: $650,000 (Construction)
Loan Structure: 12 months interest only
Loan Purpose: Property New Construction
ARV: $1,360,000
Knoxville TN new construction loan
Tennessee hard money lender

Asset Based Lending recently funded a hard money new construction loan in Knoxville Tennessee. The borrower is a first-time borrower and experienced real estate investor. The proposed build is for four identical single-family homes with 3-bedrooms, 2-bathrooms measured at a total of 1,158 square feet each. The homes will be highlighted by mid-level finishes, double hung windows, nine-foot-high ceilings, solid core doors, LVP floors throughout, and crown moldings. Kitchen will be highlighted by two-person island, granite countertops, white shaker cabinets, and stainless steel appliances. Construction is expected to take up to six months with final sale occurring shortly after completion.

Hard money loans Tennessee
TN new construction loan