Borrower requested a $450,000 loan to build a single-family property in Tampa, Florida. The borrower paid $170,000 for the land and has a $540,000 construction budget planned. The construction plans have been approved by the city, and feature 4 beds and 3 baths at 3,854 sq/f (heated). Borrower owns for a construction company and will be performing the majority of the work himself, subbing out main trades.
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
