Borrower requested a $500,000 loan to refinance a single-family property in Pinellas
Park, Florida. The property features 4 beds and 3.5 baths at 2,812 sq/ft sitting on a 3/4 acre
lot. The borrower plans to use the funds to complete repairs on the property in preparation to list the property on Airbnb. Borrower plans to refinance as an exit from the loan.
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