Experienced builder in Polk county requested a $140,000 new construction loan to complete a residential spec home on a double lot in Lakeland Fl. DKC Lending provided an $140,000 construction loan (draw schedule), on a total $195,000 construction budget, with the builder additionally pledged the double lot as collateral for the loan.
Collateral:
Type: Fix and Lease
Description:
Borrower requested a $650,000 loan to purchase a single-family property in Tarpon Springs, Florida. The property being purchased features 2 beds and 2 baths at 2,188 sq/ft with a pool. The borrower is cross collateralizing another property in pristine condition, featuring 4 beds and 5 baths in 3,849 sq/ft with a pool. The borrower will be selling the property as an exit from the loan.
- Loan Amount: $650,000
- Date: March 2025