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: Fix & Flip
Description:
Borrower requested a $92,000 loan to purchase and flip a single-family property in Pensacola, Florida. The property features 2 beds and 1 baths at 1,187 sq/ft. The borrower plans to list the property for sale as an exit to the loan.
- Loan Amount: $92,000
- Date: February 2025