Asset Based Lending recently funded a hard money new construction loan in Atlanta Georgia. The borrower is a first-time borrower and experienced real estate investor. The property was purchased for $250,000 with a construction budget of $550,000 with total loan funded at 85% LTC. The proposed build is for a single-family 5-bedroom, 5.5-bathroom measured at a total 5,759 square feet. The home will feature high-end finishes with a brick veneer facade. Highlights will include 10-foot-high ceilings, solid core doors, mix of wood and tile flooring, double hung windows, and crown molding. Kitchen will be open concept with a bar area and include an island, quartz countertops, soft-close cabinets, and stainless steel appliances. Master bedroom will feature tray ceilings, dual vanities, walk-in closet, and access to private deck. Construction is expected to take between four and six months with final sale occurring shortly after completion.
