This request is for a new construction loan for a single-family home in Lutz, FL. Upon completion, the house will feature four bedrooms, three bathrooms, a two-car garage, 2,307 heated square feet, and 2,929 square feet under the roof. Borrower’s exit strategy for this project is to obtain a Certificate of Occupancy (CO), refinance the property, pay off the loan, and incorporate the home into his expanding rental portfolio.
Collateral:
Type: New Construction
Description:
This loan totals $1,590,000, with $260,000 disbursed at closing, secured by a double-lot land asset located in Safety Harbor, Florida. The site consists of approximately 0.26 acres, and the borrower intends to subdivide the parcel and construct two new single-family homes. Each residence is planned as a two-story property featuring four bedrooms, four bathrooms, a two-car garage, and approximately 3,000 square feet of living space.
- Loan Amount: $1,590,000
- Date: February 2026
