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CASE STUDY: $1,725,508: New Construction Loan: Leonard, TX

 

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: Leonard, TX 

Loan Amount: $1,725,508 

iFC Loan Product: New Construction 

Property Type: (5) Single Family Homes 

Loan Closing Date: 8/11/2022 

Purchase Price: $325,000 

Construction Budget: $1,738,915 

ARV: $2,493,915 

LTC: 83% 

Length of Loan: 18 Months 

Overview 

These customers, who came to us by way of a referral, are experienced developers who have established a strong reputation in their market, with proven success.  

They were looking to obtain optimal leverage in order to support five new construction projects in Leonard, TX, while closing in an efficient manner. They had worked with banks before but found it more challenging to get “spec” home projects done with them. 

The customers were able to receive greater leverage and a faster path to closing than they would have working through the bank. iFC, and Jack Pagliarini, our totally on-it new Sales Rep in Dallas, Texas, was quick to find a solution that met their needs, and we were able to get the process moving right away! 

Key Loan Benefit to Borrower 

The key benefit to this borrower was that the developer was not only able to feel comfortable with the terms when the deal started, but they could also feel confident throughout the entire process that i Fund Cities would get their deal closed quickly. 

Customer Feedback 

“We felt very comfortable working with you guys and the communication was always there with quick responses to questions whenever we had them!” 

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