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 $150,000 loan to refinance a single-family property in St. Pete Beach, Florida. The borrower purchased the property in 2017 for $1,181,000. The property features 3 beds and 3 baths at 2,501 sq/ft. Borrower plans to sell the property in the next 3-6 months as an exit to the loan.
- Loan Amount: $150,000
- Term: 1 Year
- Date: November 2022
