The borrower has requested a $190,000 loan to purchase a single-family property in St. Petersburg, Florida. As collateral, the borrower is pledging a free-and-clear condominium unit located in Pinellas Park, FL. The condo features 2 bedrooms, 2 bathrooms, and 1,109 square feet of living area. The borrower’s exit strategy is to sell both properties.
Collateral:
Type: New Construction
Description:
Borrower has requested $125,000 to complete construction of a two-story, wood-frame duplex in Augusta, GA. Each unit of the duplex will offer 1,580 square feet of living space, with 794 square feet on the first floor and 786 square feet on the second. The borrower’s primary exit strategy is to sell the completed duplex.
- Loan Amount: $125,000
- Date: October 2026
