Construction Loan - Ferndale, MI

Location: Ferndale, MI.
Borrower Profile: New Client.
Work Description: Construction loan
Purchase Price: Client already owned the property.
Loan Amount: $90,000.00
Loan Structure: 6 Months, Interest Only Payments.
Situation: This borrower was in the process of flipping this property and needed extra funds to get the job done. We were able to set up a loan for her where she can make draws as work is completed on the property. Now, the house should be up and ready for listing in no time.