Borrower requested a $135,000 loan to purchase a single-family property (including an additional empty lot) in Spring Hill, Florida. The borrower paid $193,000 for the property and has a $57,000 construction budget planned, which includes adding a new manufactured home on the vacant lot. The property features 3 beds and 1 bath at 906 sq/ft. Borrower will be performing all of the renovations himself and plans to sell the property once the renovations are completed as an exit to the loan.
Collateral:
Type: Refinance
Description:
The borrower is requesting a $125,000 first-lien refinance secured by a vacant lakefront parcel located on Lakeside Dr.,Lutz, FL. The collateral consists of a 0.42-acre irregular-shaped unimproved lot with approximately 80 linear feet of direct frontage on a private ski lake. The borrower’s exit strategy is an o sale of the subject parcel.
- Loan Amount: $125,000
- Date: September 2026
