Borrower requested a $92,000 loan to purchase a manufactured home property in Tampa, Florida. The borrower paid $140,000 for the property and has a $15,000 construction budget planned, where DKC will provide a draw schedule. The property features 2 beds and 2 baths at 1,280 sq/ft. Borrower plans to refinance and hold the property as an annual rental as an exit the loan.
Collateral:
Type: New Construction
Description:
This request is for a $260,000 new construction loan secured by two to-be-built single-family homes (to be built) and two additional neighboring subdivided lots pledged as collateral. The first will consist of three bedrooms, two bathrooms, approximately 1,704 square feet of living area, and a two-car garage. The second will include three bedrooms, 2.5 bathrooms, approximately 1,777 heated square feet, and a two-car garage. Borrower primary exit strategy is to sell the property after completion.
- Loan Amount: $260,000
- Date: March 2026
