CASE STUDY: $529,975: New Construction: Dallas, TX

Highlights 

Location: Northwest Dallas, TX 

Loan Amount: $529,975 

iFC Loan Product: New Construction 

Property Type: SFH 

Loan Closing Date: 3/13/23 

Purchase Price: $225,000 

Construction Budget: $506,000 

ARV: $1,124,000 

Loan to Cost: 73% 

Exit Strategy: Sale 

Length of Loan: 12 months 

Overview  

Texas based loan officer Jack Pagliarini saw a current townhome deal that this client was working on, and asked to meet with the project sponsors.

The customer had previously worked with banks. They had three lots that were shovel-ready for construction, but the process to get started with the bank was taking much too long. 

Since the borrower had owned the land for over a year, we could use the imputed equity in the land to structure favorable terms for the builder.  

We funded 100% of the construction on this deal and covered all closing costs. The borrower walked away from the table with additional cash in their pocket. 

Customer Benefit 
Speed and the ability to begin a relationship with a lender who they know can close deals for them. 

Leave a Reply

Your email address will not be published. Required fields are marked *