201-942-9089 info@abl1.net

Rockwall Texas New Construction Loan

Address: Rockwall, TX
Borrower Profile: First Time Borrower — First Time Real Estate Investor
Work Description: New Construction — Single Family
Purchase Price: $225,000
Renovation Budget: $517,892 (Construction)
Loan Amount: $517,000
Cash Available for Purchase: $0
Cash Available for Renovation: $517,000
Loan Structure: 12 months interest only
Loan Purpose: Property New Construction Only
ARV: $825,000

Asset Based Lending recently funded a hard money new construction loan in Rockwall, Texas county. The borrower is a first time borrower and first time real estate investor. The proposed plan is for a single family 4-bedroom, 3.5-bathroom measured at 3,365 square feet. The property will be highlighted by high-end finishes, vinyl mosaic windows, 10-foot high ceilings, LVP floors, and solid core doors. Kitchen will feature stone counters, large island, white maple wood cabinets, and high-end stainless steel appliances. Bathrooms will feature tile floors, tub & shower combos, and dual vanities in the master bedroom. Project is expected to take up to eight months with final sale occurring shortly after completion.