The current home was small and dated on a nice sized lot in a very nice area of Scottsdale. The real estate investor saw a great opportunity to buy the house very close to what the lot was worth itself in order to tear down the house and build a new one. The total loan amount for the ground up construction was $440,000 and will be released on a draw schedule that is most convenient for the four phases of the project. Capital Fund offers ground up construction loans anywhere in the state of Arizona, give us a call if you have a project you are looking to get financed.
The terms given on this specific loan are as follows:
Loan Amount: $439,305
Interest Rate: 12.9%
Loan Type: Construction
Building Type: SFR