At Ceasons Holdings, LLC, we typically will loan the lesser of: up to 70% of the after improved value or 95% of the total project “hard costs.” These funds can include purchase money and closing costs, but MUST also include repair funds.
A sample loan would be as follows:
To determine an eligible loan amount, the After Repaired Value (ARV) of the home must be determined first. This is where our local market knowledge comes in. We are typically able to perform a market analysis and determine a Ceasons Holdings final ARV. For our example, we shall assume a purchase price of $120,000, renovation budget of $25,000, and an ARV of $200,000.
After Repaired Value of Home: $200,000
Purchase Price of Home: $120,000
Estimated Repair Costs: $28,000
Total “Hard Project” Costs: $148,000
Ceasons Holdings services all construction loans from start to finish and pride ourselves on providing exceptional service.
At loan closing, renovation/construction funds are held by Ceasons Holdings and released to the borrower upon staged completion of the renovation, after lender inspection.
We understand the importance of getting paid on time and want to ensure that your construction project goes as efficiently as possible.
We strive to process construction draws in 24-48 hours. We want to keep your project moving towards completion and understand paying all contractors on time is key. We look forward to being your financing partner for your next construction project.
We do NOT Charge for draw inspections.
Congratulations on either the sell or refinance of your property. Please provide our contact information to the title company that will be handling your transaction. They may contact us to request a payoff statement for your loan.