Recently Funded Fix And Flip Refinance in East Chicago, Indiana

Loan Scenario:

This This fix and flip loan supports a no cash-out refinance for a single-family detached home in East Chicago, Indiana. The borrower is an experienced investor. Specifically, the property holds an as-is value of $90,000, while the After Repair Value reaches $210,000. Additionally, the rehab budget totals $117,800. As a result, American Heritage Lending provided $114,800 in financing. Notably, the loan carries a Loan-to-Cost of 89.44% and a Loan-to-After Repair Value of 54.67%. Furthermore, the structure runs as a 12-month interest-only term. Because of this, the borrower can focus on the rehab throughout the loan period.

First, the project starts with demo work and site prep. Then, exterior work brings new siding, gutters, and a garage refresh. From there, interior work adds fresh drywall, paint, trim, and new floors. Also, the staircase and doors get updates. Next, the kitchen and baths get full remodels with new finishes and cabinets. Furthermore, the build adds new HVAC, wiring, and plumbing. Finally, the crew swaps appliances, clears trees, and sets new fencing.

East Chicago keeps drawing investor interest. Specifically, the area sits along the South Shore Line transit corridor, where station upgrades support fresh demand. Moreover, older homes fill local supply, which rewards a smart rehab. Consequently, a fully updated home stands out where move-in-ready stock stays tight.

Overall, this deal shows how American Heritage Lending backs investors with high-leverage financing. Specifically, the 89.44% Loan-to-Cost lets the borrower fund a deep rehab while keeping cash on hand. As a result, the borrower taps strong leverage against a controlled after-repair basis. Furthermore, the refinance gives the investor room to build long-term value.