The borrower has requested a $1,175,000 loan to refinance two single-family properties located in Palm Harbor, Florida. The properties feature 5 bedrooms, 4 bathrooms, 2,545 square feet, and 2 bedrooms and 2 bathrooms, 1,055 square feet. The borrower intends to refinance as an exit strategy for the loan but is also considering selling other real estate assets to satisfy the debt.
Collateral:
Type: New Construction
Description:
This is a $260,000 new construction loan request on a duplex located in Port Charlotte, FL, with an initial disbursement of $60,000 at closing. Upon completion, the property will consist of two units, each featuring 3 bedrooms, 2 bathrooms, 1,247 square feet of living space, and a 1-car garage. The borrower intends to refinance the property as the primary exit strategy.
- Loan Amount: $260,000
- Date: August 2025
