Borrower requested a $750,000 new construction loan in South Tampa, Florida to complete the construction of a single-family home. The borrower paid $400,000 for the property in 2020 and has a total $800,000 construction budget planned. The property will feature 4 beds, 4.5 baths, and a 2-car garage totalling 4,182 sq/ft. The borrower plans to refinance the property as an exit to the loan.
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
