Transaction Details

Single Fix/Flip Loan, NJ


Single Fix/Flip Loan | 189 Briarheath Lane, Clark, NJ 07066
Recently Funded

R-Iaione Companies, Inc.


Property Type: Single Family

Development Phase:

Full Renovation

Rate
8.49%
Loan to cost
90%
Loan to ARV
37.99%
Total Loan Amount
$378,000.00
Initial loan amount
$378,000.00
Rehab/Const Loan amount
$305,000.00
Transaction type
Purchase and Rehabilitation
Loan program
Fix/Flip LIne of Credit
Doc Type
Streamline
Amortization
Interest Only
Investment Summary
Existing home will be completely gutted and re-built to a completely new home. The foundation and exterior walls will remain in place and the interior will be completely rebuilt. The existing home will be rebuilt according to new plans and specs, which will be drawn by a NJ state licensed architect. All plans will be submitted to the Clark Twsp Building Dept. for their approval and issuance of a building perrmit. No work will commence until plans are approved and released by building dept.
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