Borrower requested a $56,000 loan to purchase an $80,000, 3 bed 2 bath, single-family home in Ocala Florida. The property is set to undergo a $45,000 remodel, including a new roof and AC replacement along with a full cosmetic remodel, before being sold for a profit.
Collateral:
Type: New Construction
Description:
This is a $380,000 new construction loan request for a single-family property located in St. Augustine, FL. The home will feature 3 bedrooms, 2.5 bathrooms, and an office that can serve as an additional bedroom, with a total of 2,256 square feet of living space. The borrower will refinance the subject property if the builds and the sales take longer than anticipated.
- Loan Amount: $380,000
- Date: December 2024
