Case Study

Multi-Family Ground-Up Construction Loan

Loan Details

Loan Amount:  $775,000

Loan-To-Value:  55% LTV

Term:  12-Month

Situation & Challenge

An investor who owned the lot free & clear, had completed plans and permits, was ready to build but didn’t have time to go with the somewhat tedious process of applying for bank financing.

Since the project was shovel ready, the only challenge was verifying the project specs and borrower application (experience and financials), which all checked out. 

Solution & Result

The borrower decided to take out a private money ground-up construction loan to build the multi-family building. From application to closing, the loan took 16 days to close with an initial cash-out draw at closing. 

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