Borrower requested a $286,500 loan to purchase a single-family property in Tampa, Florida. The borrower paid $382,000 for the property and has a $18,000 construction budget planned. The property features 3 beds and 2 baths at 1,943 sq/ft that also includes a 2 car garage. The borrower plans to renovate the property himself and then refinance as an exit strategy.
Collateral:
Type: New Construction
Description:
This is a $150,000 new construction loan request for a single-family residence in Port Charlotte, FL. The home will offer three bedrooms, two bathrooms, 1,342 square feet of living space, and a one-car garage upon completion. The borrower exit strategy for this loan is to refinance upon completion.
- Loan Amount: $150,000
- Date: April 2025