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: Refinance
Description:
The borrower is requesting a $125,000 first-lien refinance secured by a vacant lakefront parcel located on Lakeside Dr.,Lutz, FL. The collateral consists of a 0.42-acre irregular-shaped unimproved lot with approximately 80 linear feet of direct frontage on a private ski lake. The borrower’s exit strategy is an o sale of the subject parcel.
- Loan Amount: $125,000
- Date: September 2026
