Property Listing

Fix/Flip LOC Draw in Moonachie, NJ

Transaction Overview

We funded this deal in only 7 days from the date we received a request for a line of credit draw.  We required only two pieces of paper from our borrower in order to fund.  A line of credit draw request and a construction budget.  That's it!  We financed 90% of the purchase price and 95% of the construction.  We were so pleased to inform our borrower that our appraiser disagreed with their after repair value.  Our client estimated their after repair value at $365,000 but our appraiser assigned an after repair value of $400,000!  We love to deliver great news!

Property Details
Purchase Price $200000Loan Amount $251,250Interest Rate 7.49%
% of Purchase Financed 90%% of Construction Financed 95%% of ARV Financed 75%
Property Type Single FamilyInvestment Objective Fix/Flip to RetailLoan Product Fix/Flip Line of Credit

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