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CASE STUDY: $478,000: New Construction: Charlotte, NC

Hey everyone! Our iFC CASE STUDIES give you real-life details about how other investors used our loan products to build their portfolios!  

 

Highlights 

Location: Charlotte, NC 

Loan Amount: $478,000 

iFC Loan Product: New Construction 

Property Type: (2) SFH 

Loan Closing Date: 9/19/2022 

Purchase Price: $75,000 (each lot) 

Construction Budget: $170,000 (each house) 

ARV: $325,000 (each house) 

Loan to Cost: 80% 

Length of Loan: 12 months 

Overview  

This client came to us after their previous lender put a pause on new construction lending. We are seeing this happening a lot right now across markets. 

Due to our varied source of funding, which gives us reliable funds, even in choppy waters, iFC is continuing to fund projects, even when other lenders can’t. 

We LOVE the North Carolina market, and we are committed to continuing to lend to our customers! 

Customer Benefit
We were able to fund a portion of this client’s land purchase, as well as 100% of the new build costs! 

CUSTOMER FEEDBACK 

Said the customer, “Erik made the entire process seamless and this was the fastest we have ever closed a new construction loan.” 

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