We recently funded this project in Livingston,NJ. Our borrowers faced some challenges with a an oil tank and soil contamination which needed remediation. Although this issue delayed closing for several months, we made certain to keep the loan file fresh such that a smooth closing could occur only days after the remediation was complete. Construction is currently underway and we’re certain this project will be a home run for our clients.
Loan Amount |
$455,823 |
Interest Rate |
9.90% |
Loan to Cost |
90% |
% of After Repair Value Financed |
70% |
Property Type |
Single Family |
Investment Strategy |
Fix/Flip |