Borrower requested a $240,000 loan to refinance a single family fix and flip property in Rockledge, FL. The borrower paid $211,000 for the property and has completed 80% of a $120,000 total construction budget. DKC will hold $20,000 back until construction is completed. The property features 4 beds and 3 baths at a total 2,077 sq/ft. Additionally the borrower is pleding a vacant piece of land currently owned. Borrower plans to finish the rehab and then sell the property after the renovation.
Collateral:
Type: Refinance
Description:
This is a $120,000 refinance loan request secured by a single-family residence located in Jacksonville, FL. The home features four bedrooms, three bathrooms, approximately 4,845 square feet of living space, a three-car garage, an in-ground pool, and is situated on nearly a half-acre lot. As an exit strategy, the borrower is considering both refinancing into a 30-year conventional mortgage and the potential sale of the property.
- Loan Amount: $120,000
- Date: August 2025