This request is for a new construction loan for a single-family home in Lutz, FL. Upon completion, the house will feature four bedrooms, three bathrooms, a two-car garage, 2,307 heated square feet, and 2,929 square feet under the roof. Borrower’s exit strategy for this project is to obtain a Certificate of Occupancy (CO), refinance the property, pay off the loan, and incorporate the home into his expanding rental portfolio.
Collateral:
Type: New Construction
Description:
This is a new construction loan for a single-family residence to be developed in Plant City, Florida. The proposed structure will feature six bedrooms, six bathrooms, and a two-car garage, totaling approximately 3,664 square feet. The primary exit strategy is to sell the completed property.
- Loan Amount: $460,000
- Date: April 2025
