Borrower requested a $450,000 loan to build a single-family property in Tampa, Florida. The borrower paid $170,000 for the land and has a $540,000 construction budget planned. The construction plans have been approved by the city, and feature 4 beds and 3 baths at 3,854 sq/f (heated). Borrower owns for a construction company and will be performing the majority of the work himself, subbing out main trades.
Collateral:
Type: Refinance
Description:
Borrower requested a $85,000 loan to refinance a single-family fix and flip property in Sanford, Florida. The property will feature 3 bedrooms, 2 bathrooms, and 1,242 square feet of living space upon completion. The home sits on a desirable double lot totaling 0.48 acres and overlooks a pond. The borrower plans to list the property for sale after the renovation as an exit to the loan.
- Loan Amount: $85000
- Date: January 2025