Borrower requested a $157,000 loan to purchase a single-family property in Panama City, Florida. The property features 4 beds and 2 baths at 1,940 sq/ft. Borrower plans to complete a remodel and then list the property for sale after the renovation as an exit to the loan.
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