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: Refinance
Description:
This is a $70,000 refinance loan request, secured by a single-family residence located in Panama City, Florida. The subject property was built in 1952 and consists of a 4-bedroom, 3-bathroom home with a one-car garage, totaling 2,416 square feet, along with an oversized detached garage, situated on one acre of land. Borrower exit strategy is to either retain the property as employee rental or sell the property.
- Loan Amount: $70,000
- Date: December 2025
