Borrower requested a $120,000 loan, to purchase a single-family property in Tampa, Florida. The borrower payed $175,000 for the property and has a $125,000 construction budget planned that includes adding a second story to the existing structure. Borrower has completed multiple real estate projects with DKC including ongoing development projects.
Collateral:
Type: New Construction
Description:
This is a $380,000 new construction loan request for a single-family property located in St. Augustine, FL. The home will feature 3 bedrooms, 2.5 bathrooms, and an office that can serve as an additional bedroom, with a total of 2,256 square feet of living space. The borrower will refinance the subject property if the builds and the sales take longer than anticipated.
- Loan Amount: $380,000
- Date: December 2024
