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CASE STUDY: $1,444,149: Portfolio New Construction: Rock Hill, SC

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: Rock Hill, SC 

Loan Amount: $1,444,149 

iFC Loan Product: New Construction Portfolio 

Property Type: (9) Single Family Homes

Loan Closing Date: 10/26/2022 

Purchase Price: $289,499 

Construction Budget: $1,440,000 

ARV: $2,480,000

Loan to Cost: 85% 

Length of Loan: 12 months 

OVERVIEW:

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.  

CUSTOMER BENEFIT:Borrower was able to hold some cash right now for future opportunities. 

CUSTOMER FEEDBACK

“The draw process was better than any other lender we worked with.” 

 

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