Borrower requested a $240,000 loan to refinance a single family fix and flip property in Rockledge, FL. The borrower paid $211,000 for the property and has completed 80% of a $120,000 total construction budget. DKC will hold $20,000 back until construction is completed. The property features 4 beds and 3 baths at a total 2,077 sq/ft. Additionally the borrower is pleding a vacant piece of land currently owned. Borrower plans to finish the rehab and then sell the property after the renovation.
Collateral:
Type: New Construction
Description:
This request is for a $260,000 new construction loan secured by two to-be-built single-family homes (to be built) and two additional neighboring subdivided lots pledged as collateral. The first will consist of three bedrooms, two bathrooms, approximately 1,704 square feet of living area, and a two-car garage. The second will include three bedrooms, 2.5 bathrooms, approximately 1,777 heated square feet, and a two-car garage. Borrower primary exit strategy is to sell the property after completion.
- Loan Amount: $260,000
- Date: March 2026
