Borrower requested a $300,000 loan to purchase a condo in Clearwater, Florida. The property features 2 beds and 2 baths at 1,260 sq/ft with a waterfront view and was built in 1974. The borrower plans to lease the property as a rental and refinance as an exit to the loan.
Collateral:
Type: New Construction
Description:
The borrower requested a $130,000 new construction loan on a single-family property in Spring Hill, FL. The property features a modern layout with 4 bedrooms, 3.5 bathrooms, a 2-car garage, and 2,687 sq. ft. of living space. It is situated on an oversized 0.35-acre lot. The borrower plans to sell the completed property as an exit to the loan.
- Loan Amount: $130,000
- Date: November 2024