Borrower requested a $150,000 loan, to purchase a single-family property in Weeki Wachee, Florida. The borrower paid $275,000 for the property and has a $25,000 construction budget planned that is primarily cosmetic upgrades. Borrower plans to lease the property for as an airbnb rental after the renovation and refinance as an exit to the loan
Collateral:
Type: New Construction
Description:
This is a $200,000 new construction loan request for a single-family home located in Fort Myers, FL. Upon completion, the property will comprise two separate structures: the main residence, which features seven bedrooms and six bathrooms across 1,837 heated square feet, and a 550-square-foot studio suite, totaling 2,387 square feet of heated living area. Borrower exit strategy for this particular property is a long-term hold, with plans to refinance using a debt-service coverage ratio (DSCR) loan.
- Loan Amount: $200,000
- Date: June 2025