This is a $150,000 new construction loan request, secured by a single-family home under construction and an adjacent vacant lot, both located in Lakeland, Florida. The subject is 3-bedroom, 2-bathroom home, totaling 1,085 square feet, which includes a two-car garage. Their planned exit strategy is to sell the completed home.
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
