Jacksonville, FL

$166,600

Single Family Residence

Residential Fix and Flip

01/15/2020
Transaction by
American Heritage Lending, Inc.
American Heritage Lending, a national private lending firm, funded a private loan for a house fix & flip project in Julington neighborhood of Jacksonville, FL. The purchase price was $147,500 and the estimated renovation budget was $56,300. The Borrower contributed a cash down payment of $33,900 which amounts to approximately 16% of the total project costs. The estimated after-repair value is $238,000 which puts our loan at 70% LTARV. The Borrower had less than stellar credit, but the loan was still approved based on their experience with flipping houses. The loan was closed in just 7 days! The property was completely renovated in 6 months and paid off in January 2020.