The Client

Repeat Borrower & Real Estate Broker
• Loan Purpose
Property Purchase Only
• Loan Structure
12 Months Interest Only

The Investment

Purchase Only - Single Family
• Purchase Price
$365,000
• Renovation Budget
$0
• Loan Amount
$328,000
• Cash Available for Purchase
$328,000
• Cash Available for Renovation
$0

The ABL Partnership

Asset Based Lending recently funded a hard money loan for the purchase of a single family property in Jersey City, NJ. The borrower is a repeat borrower and experienced real estate broker that met ABL at a local networking event. The property is in fair condition, and the borrower has opted to self-finance the cosmetic renovations. Asset Based Lending was able to finance this hard money loan at 90% of purchase, capped at 75% of the as-is value.

The Results

• After Repair Value
$440,000
• Sale Price
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