Borrower requested a $140,000 loan to refinance a single-family property in New Port Richey, Florida. Estimated value is around $200,000 with an ARV of $250,000 with a new roof, HVAC and minor repairs. Borrower is using the proceeds to complete a new construction project in the Hudson, Fl. The property features 2 beds and 2 baths at 1,074 sq/ft. Borrower plans to sell the new construction properly and use those proceeds to pay off existing loan.
Collateral:
Type: New Construction
Description:
Borrower has requested $125,000 to complete construction of a two-story, wood-frame duplex in Augusta, GA. Each unit of the duplex will offer 1,580 square feet of living space, with 794 square feet on the first floor and 786 square feet on the second. The borrower’s primary exit strategy is to sell the completed duplex.
- Loan Amount: $125,000
- Date: October 2026
