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: Refinance
Description:
This is a $200,000 TRID-compliant second mortgage loan request secured by a single-family residence located in Belleair, Florida. The home is a four-bedroom, three-bathroom property with a pool and 2,461 square feet of living space, a two-car garage, and sits on a 0.36-acre lot. Borrower intended exit strategy is to refinance the property and consolidate both the first and second mortgages.
- Loan Amount: $200,000
- Date: July 2025