The borrower requested a $115,000 new construction loan for a single-family property located in Babson Park, FL. The property, which features 3 bedrooms, 2 bathrooms, and 1,403 square feet of living space, is approximately 70% complete. The borrower intends to list the property for sale.
Collateral:
Type: Fix and Flip
Description:
This is a $305,000 acquisition (land) loan secured by a tear-down single- family property located in Clearwater Beach, Florida. The subject property sits on a 0.16-acre lot (7,083 square feet) in a flood zone. The primary exit strategy for this loan is to build and sell a new construciton property.
- Loan Amount: $305,000
- Date: January 2026
