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 new construction loan for a single-family residence to be developed in Plant City, Florida. The proposed structure will feature six bedrooms, six bathrooms, and a two-car garage, totaling approximately 3,664 square feet. The primary exit strategy is to sell the completed property.
- Loan Amount: $460,000
- Date: April 2025