All projectsNeeds Attention
Magnolia State · 78 Holdings LLC · Madisonville, LA
78 Magnolia Court
3%
Complete
Est. Jun 15
Projected Margin
$382K
On $1.88M sale price
Loan Terms
Magnolia State Bank
Commitment$1,020,000
Balance drawn$0
Availability$1,020,000
RateSOFR + 3.00%
LTC / LTV78% / 70%
Equity requirement22% cash equity
Interest reserve12 months required
RecourseFull recourse + cross-collateral
Equity & Sources
Where the money is coming from
Builder equity planned$320,000
Builder equity invested$86,400
Remaining equity needed$233,600
Loan proceeds received$0
Pending draw reimbursement$0
Next 30-day spend$120,600
Remaining Availability
Can the loan still cover the job?
Commitment$1,020,000
Less balance drawn($0)
Less next draw #1($0)
Availability after next draw$1,020,000
Cost remaining to complete$1,313,200
Coverage gap$293,200
Commitment drawn
0% drawn · $1.02M available
Next draw
Draw #1$0
Target fundingFri, Oct 2
Cash floated until funding$210,000