Borrower requested a $105,000 loan to refinance a new-construction project in New Port Richey, Florida. To date, the borrower purchased and started construction using cash, and has spent roughly $150,000 to date. The property is now dried in and recently passed rough mechanical, and plumbing city inspections. The completed home will feature 3 beds and 2 baths at a total of 2,379 sq/ft (1,671 heated) with an estimated ARV of $350,000+.
Collateral:
Type: Fix and Lease
Description:
The borrower has requested a $70,000 loan to refinance a condo property in Punta Gorda, Florida. The borrower is paid $118,000 for the property. The property features 2 beds and 1 bath at 1,037 sq/ft. The borrower refinance as an exit to the loan with DKC using a DSCR product.
- Loan Amount: $70,000
- Date: December 2024
