Borrower requested a $25,000 loan to purchase a manufactured mobile home property in Port Richey, FL. The property is in a good condition, requiring a $10,000 cosmetic rehab, which the borrower will complete using personal capital and self performing a majority of the work. The collateral purchase price is $38,900, and the property rents at a conservative estimate of $950/month once renovated.
Collateral:
Type: New Construction
Description:
This is a $120,000 new construction loan request secured by a single-family home located in Spring Hill, Florida. The property is being built as a 4-bedroom, 2-bathroom residence with a 2-car garage, totaling 2,123 square feet. The home is fully dried in, with interior drywall and texture finished, bathroom tile installed, and all exterior work complete except for landscaping and the driveway. The planned exit strategy is to sell the property upon completion.
- Loan Amount: $120,000
- Date: September 2025
