All projectsOn Track
Delta First · 2201 Holdings LLC · Slidell, LA
2201 Cypress Bend
91%
Complete
Est. Sep 26
Projected Margin
$133K
On $845K sale price
Loan Terms
Delta First National
Commitment$520,000
Balance drawn$457,600
Availability$62,400
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$120,000
Builder equity invested$120,000
Remaining equity needed$0
Loan proceeds received$457,600
Pending draw reimbursement$25,420
Next 30-day spend$23,000
Remaining Availability
Can the loan still cover the job?
Commitment$520,000
Less balance drawn($457,600)
Less next draw #9($41,000)
Availability after next draw$21,400
Cost remaining to complete$60,800
Coverage gap$0
Commitment drawn
88% drawn · $62K available
Next draw
Draw #9$41,000
Target fundingFri, Aug 21
Cash floated until funding$12,300