This request is for a $200,000 new-construction loan, with $180,000 funded at closing, secured by a single-family property located in Lake Alfred, Florida. The project consists of a 3-bedroom, 3-bathroom residence totaling 3,114 square feet of living area, situated on approximately 0.35 acres, and includes a two-car garage and a game room. The primary anticipated exit is a retail sale of the completed property.
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
