Borrower requested a $137,000 loan to purchase a single-family property in Panama City, Florida. The borrower paid $195,000 for the property and has a $27,000 construction budget planned. The property features 4 beds and 2.5 baths at 1840 sq/ft. Borrower plans to sell the property for a profit once the renovation is completed, ARV estimated around $275,000+.
Collateral:
Type: New Construction
Description:
Borrower has requested $125,000 to complete construction of a two-story, wood-frame duplex in Augusta, GA. Each unit of the duplex will offer 1,580 square feet of living space, with 794 square feet on the first floor and 786 square feet on the second. The borrower’s primary exit strategy is to sell the completed duplex.
- Loan Amount: $125,000
- Date: October 2026
