Location: Rock Hill, SC
Loan Amount: $1,444,149
iFC Loan Product: New Construction Portfolio
Property Type: (9) SFH
Loan Closing Date: 10/26/2022
Purchase Price: $289,499
Construction Budget: $1,440,000
Loan to Cost: 85%
Length of Loan: 12 months
These large developers in North Carolina returned to i Fund Cities after having a great borrowing experience with us last year.
The client needed a loan to build nine single family homes. Erik Eichinger, our expert loan officer in North and South Carolina, worked with the borrower to bundle all nine loans into one New Construction Portfolio Loan. Packaging this loan worked out to be a major savings of time and in closing costs for the client.
Borrower was able to hold some cash right now for future opportunities.
“The draw process was better than any other lender we worked with.”