Borrower requested a $387,000 loan to refinance a new construction property in Saint Cloud, Florida. The property will feature 5 beds and 3.5 baths at 3,461 sq/ft. The borrower plans to sell the property for a profit after the construction is completed as an exit to the loan.
Collateral:
Type: Refinance
Description:
This is a $550,000 loan request to finance the construction of a single-family property in Cape Coral, Florida. The planned property includes two stories, four bedrooms, four bathrooms, a two-car garage, an executive office, an inground pool, and 3,199 square feet of living space on a canal with a boat dock providing access to the Gulf of Mexico. The borrower plans to refinance as the exit strategy for this loan.
- Loan Amount: $550,000
- Date: January 2025