Borrower requested a $440,000 loan to purchase a single-family property in Wesley Chapel Florida. The borrower paid $550,000 for the property and has a $337,000 construction budget planned to complete a stalled new construction project from the seller. Borrower is part owner of a construction company and will be performing the work himself using the previous owner’s plans.
Collateral:
Type: Refinance
Description:
This request is for a $400,000 refinance loan secured by a single-family residence located in the Walden Lake Community in Plant City, Florida. The property features three bedrooms, five bathrooms, and an executive office that can also serve as an additional bedroom. The residence offers 4,444 square feet of living space on a 0.37-acre lot and is situated directly on a private golf course. Borrower exit strategy is to refinance into a DSCR loan after liquidating other investments.
- Loan Amount: $400,000
- Date: October 2025