New Construction Loan – Charlotte, NC
Lima One Capital views itself as the premier lending partner for real estate investors. Our goals are always the same: provide clients with best-in-class, premier customer service and help them accomplish their goals.
We’re able to accomplish this through our new construction loan program. It’s a program built for builders and offers flexible terms designed to help investors execute their investment strategies.
In this deal, a Charlotte, North Carolina investor needed funding to his ground-up construction project in an up-and-coming area of Charlotte. When it’s completed, this 3,936-square foot home will include 4 bedrooms and 5 bathrooms, a 608-square foot detached garage, and energy-efficient appliances.
New Construction Loan By the Numbers
- Loan Amount: $811K
- ARV: $1.3M
- Loan to ARV: 60%
- Loan Term: 13 months
- Construction Budget: $552K
“Lima One has been very service oriented and has made the process comfortable.”
A Quick Close Leads to Success
Lima One Capital was able to close this deal in just over two weeks. It was the first project we have funded for this investor, and he chose Lima One because he wanted to see how well we were able to work with him.
This investor plans to sell this home when it’s finished, but he has several other projects he plans to complete and has expressed interest in working with Lima One on those.
Drawing – Front of the home
Drawing – Back of the home