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 has requested $125,000 to complete construction of a two-story, wood-frame duplex in Augusta, GA. Each unit of the duplex will offer 1,580 square feet of living space, with 794 square feet on the first floor and 786 square feet on the second. The borrower’s primary exit strategy is to sell the completed duplex.
- Loan Amount: $125,000
- Date: October 2026
