Hard Money Purchase Loan for SFR in Mabank, TX 75156

Funded by CR Lending

$185,000

Deal Details

Private Loan Type

Residential Ground-Up Construction

Approx. Funding Date

05/15/2024

Property Type
Single Family Residence
Property City

Mabank

Property State

TX

Loan Term (months)

6

Lien Type

1st Mortgage

Payment Type

Interest Only

Purchase Price

$35,000

Loan-to-Purchase Price

100%

Borrower's Contribution to Purchase

14%

Source of Borrower's Contribution

Cash

Construction Budget

$185,000

Construction Budget Funded

100%

Builder's Contribution to Budget

0%

Completed Value

$280,000

Loan-to-Completed Value

66%

Construction Project Scope

Vertical

Location Type

Suburban

Property Condition

Brand New Build

Number of Units

1

Borrower's Plan

Build and Sell

Exit Strategy

Sale

Interest Rate

12.5%

Origination Points

2.5%

Deal Highlights

NEW BUILD with repeat client

Deal Summary

Loan amount $185,000
Repeat borrower, new construction project.

Funded By

CR Lending

NO Credit Check, NO Appraisal / Survey, NO Prepay | 100% LTC for Fix & Flip

More Deals By CR Lending