Borrower requested a 375,000 loan to purchase a single-family property in Largo, Florida. The borrower paid $505,000 for the property and does not have a construction budget planned, as the home is turnkey ready. The property features 3 beds and 2 baths at 1,564 sq/ft. Borrower will be leasing the property as a short term rental and will refinance as an exit to the loan in an estimated 60 days.
Collateral:
Type: New Construction
Description:
Borrower requested a $110,000 loan to complete construction of a single-family property in Lehigh, Florida. The property features 4 bedrooms and 3 bathrooms, 2,152 square feet of living space, and a 2-car garage on a 0.25-acre lot. Borrower plans to lease the property for an annual rental after the renovation and refinance as an exit to the loan.
- Loan Amount: $110,000
- Date: July, 2026
