Borrower requested a $258,000 loan to purchase a single-family property that includes an efficiency suite and two additional, adjoining vacant lots in Clearwater, Florida. The borrower paid $345,000 for the property and has a $75,000+ construction budget planned for the existing property, that features 2 beds and 2 baths at 1500 sq/ft. Borrower plans to remodel the existing home and efficiency, and to build two smaller new construction homes on the adjoining vacant lots with his own capital.
Collateral:
Type: Refinance
Description:
This is a $100,000 refinance loan request secured by a single-family property located in Odessa, FL. The subject property, built in 2023, features 4 bedrooms, 3.5 bathrooms, and 3,038 square feet of living space. The exit strategy is the sale of the property
- Loan Amount: $100,000
- Date: April 2026
