All projectsOn Track
Delta First · 1450 Holdings LLC · Slidell, LA
1450 Ridgewood
29%
Complete
Est. Mar 22
Projected Margin
$170K
On $940K sale price
Loan Terms
Delta First National
Commitment$550,000
Balance drawn$154,000
Availability$396,000
RatePrime + 0.75%
LTC / LTV80% / 72%
Equity requirement20% cash equity
Interest reserveInterest paid current, no reserve
RecourseFull recourse
Equity & Sources
Where the money is coming from
Builder equity planned$140,000
Builder equity invested$72,800
Remaining equity needed$67,200
Loan proceeds received$154,000
Pending draw reimbursement$35,960
Next 30-day spend$62,100
Remaining Availability
Can the loan still cover the job?
Commitment$550,000
Less balance drawn($154,000)
Less next draw #2($58,000)
Availability after next draw$338,000
Cost remaining to complete$503,700
Coverage gap$107,700
Commitment drawn
28% drawn · $396K available
Next draw
Draw #2$58,000
Target fundingTue, Sep 15
Cash floated until funding$19,800