Ground-Up Construction Loan for 3 Townhomes in Houston, Texas

Funded by i Fund Cities


Deal Details

Private Loan Type

Residential Ground-Up Construction

Approx. Funding Date


Property Type
2-4 Units Residential
Property City


Property State


Loan Term (months)


Lien Type


Payment Type

Interest Only

Construction Budget


Construction Budget Funded


Builder's Contribution to Budget


Completed Value


Loan-to-Completed Value


Location Type


Property Condition

Vacant Land

Number of Units


Borrower's Plan

Build and Sell

Exit Strategy


Deal Highlights

Borrower was able to move more quickly on funding by working directly with our company.
Loan incorporated the value added to the property by the Client through re-plating for 3 townhomes.
We funded 100% of construction costs along with some of the Borrower's closing costs.

Deal Summary

I Fund Cities, an alternative lending platform, funded an $854,167 senior lien position ground-up construction loan for 3 townhomes in Houston, TX. We funded 100% of the $825,000 construction budget. The completed value was estimated at $1,436,000 so our loan-to-completed value was 58%. This new construction Borrower had existing debt on their property and they wanted to get financing quickly to keep their pipeline moving at their own pace. By working directly with i Fund Cities, this Borrower had access to the people intimately involved in his loan process, which allowed him to get the answers he needed quickly. i Fund Cities was able to help this Borrower by providing a loan that considered the value-add already done on the property. This included doing the re-platting and getting the approvals to build 3 townhomes, as opposed to building just one single-family home. We moved quickly and efficiently for this Borrower, closing with the same terms we agreed upon from day one. We even covered a portion of the closing costs! The Borrower plans to sell the property upon completion. The loan term was set at 12 months. This ground-up construction loan was funded in November 2023.

Funded By

i Fund Cities

Great F#*%ing Loans, Built By Investors For Investors


Jack Pagliarini

Loan Officer, Territory Sales Representative