Colonial Beach, VA - New Construction

716 Forest Grove Rd Colonial Beach, VA 22443

Property Flip Loan funded a $150,000 new construction loan allowing the borrower to refinance the lot that he owned outright in Colonial Beach, VA. The borrower is an experienced electrical contractor who has many years of construction experience. We closed this loan for the borrower quickly with No Appraisal and No Prepayment Penalties. The term of the loan is 8 months; however, construction is expected to be completed sooner at which time the borrower will look to sell 2000 SQFT home. Loan docs were signed and the loan was funded on 9/24/2021.