Borrower requested a $105,000 loan to refinance a single-family property in Eagle Lake, Florida to access equity to complete a renovation. The property features 3 beds and 1 bath at 796 sq/ft on a 5,53 sq/ft lot. After construction is complete, they plan to lease and refinance the property as an exit to the loan.
Collateral:
Type: New Construction
Description:
This is a $480,000 new construction loan request, with $200,000 funded at closing, secured by a non-waterfront single-family-zoned lot in Redington Shores, Florida. The project will consist of a three-story, coastal-style home featuring three bedrooms, three bathrooms, approximately 2,072 heated square feet, and a two-car garage. The primary exit strategy is a retail sale.
- Loan Amount: $480,000
- Date: February 2026
