Borrower requested a $232,000 loan to purchase a single-family property in Tampa, Florida. The borrower paid $280,000 for the property and has a $70,000 construction budget planned in which DKC Lending will have a $35,000 construction holdback. Borrower plans to sell the property for a profit after the renovation is complete.
Collateral:
Type: Refinance
Description:
This is a $100,000 refinance loan request at 50% loan-to-value (LTV), secured by a Lake Worth, Florida condominium unit. The property has two bedrooms, two and a half bathrooms, and approximately 1,500 square feet of living space. Borrower plans to complete the renovation and exit the loan through a conventional property sale.
- Loan Amount: $100,000
- Date: June 2025