Borrower requested a $127,500 loan to purchase a single-family property in Valrico, Florida. The borrower paid $162,000 for the property and has a $30,000 construction budget planned, and DKC will have a $15,000 Construction holdback. The renovation is primarily cosmetic. ARV estimated around $270,000.
Collateral:
Type: New Construction
Description:
Borrower requested a $425,000 loan to begin construction on a single-family property in Lakeland, Florida. The property will feature 4 beds and 3 baths at 3,727 sq/ft. The target sale price for the completed property is estimated $1.1 million.
- Loan Amount: $425,000
- Date: September 2024