Borrower requested a $250,000 construction loan to build a single-family properly in Hernando, Florida. Borrower has a $400,000 total construction budget planned which DKC will provide a draw schedule to complete. The property will feature 4 beds, 2.5 baths and a two-car garage at 2,117 heated sq/ft. The borrower plans to refinance as an exit from the loan.
Collateral:
Type: Refinance
Description:
Borrower requested a $155,000 loan to refinance a single-family property in Tampa, Florida. The property features 2 beds and 1 bath at 1,108 sq/ft, and is tenant occupied. The borrower is using proceeds to complete a build at a different location and will sell the other investment property to exit the loan.
- Loan Amount: $155,000
- Date: July 2024