Borrower requested a $200,000 loan to refinance a single-family property in Pinellas Park, Florida. The property needs a full renovation and features 4 beds and 2 baths at 1,198 sq/ft. The borrower is either listing the property for sale or lease and then refinance as an exit to the loan.
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
