Borrower requested a $2,200,000 loan to refinance a multi-family property in Largo, Florida. The property features 16 units with 3 beds and 1 bath at 976 sq/ft each and 1 unit with 1 bed 1 bath. The borrower plans to continue to lease the property as annual rentals after the renovation and refinance as an exit to the loan.
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