The borrower requested a $180,000 new construction loan on a single-family property in Winter Haven, Florida. Upon completion, the subject property will feature three bedrooms, two bathrooms, and 1,536 square feet of living space across two stories, with a one-car garage. The exit strategy for this loan is a DSCR refinance.
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