Borrower requested a $170,000 loan to perform a cash out refinance on a free and clear property in Tampa, Florida. The borrower is using the cash to purchase another investment property, and has recently completed a full remodel on the collateralized property.
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
