Borrower requested a $135,000 loan to refinance a single-family property in St. Petersburg, Florida. Borrower purchased the property for $42k in 2013, and has since fully remodelled the home, and lived in it. Borrower is now moving out of the home and plans to rent the property for an annual rental. The property features 2 beds and 2 baths at 1,318 sq/ft.
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
