Borrower requested a $440,000 loan to purchase a single-family property in Wesley Chapel Florida. The borrower paid $550,000 for the property and has a $337,000 construction budget planned to complete a stalled new construction project from the seller. Borrower is part owner of a construction company and will be performing the work himself using the previous owner’s plans.
Collateral:
Type: Fix & Flip
Description:
Borrower requested a $142,000 loan to purchase a single-family property in Weeki Wachee, Florida. The property features 3 beds and 2 baths at 1,516 sq/ft sitting on a 8,800 sq/ft lot. Borrower plans to list the property for sale after the renovation as an exit to the loan.
- Loan Amount: $142,000
- Date: May 2023
