Borrower requested a $360,000 loan to purchase a townhome property in Indian Rocks Beach, Florida. The property is a 1,412 sq. ft. 2-bedroom, 2-bathroom residence with an additional 675 sq. ft. of storage space. The borrowers additionally pledged free and clear collateral to the loan, and plan to refinance as an exit to the loan.
Collateral:
Type: New Construction
Description:
This is a $380,000 new construction loan request for a single-family property located in St. Augustine, FL. The home will feature 3 bedrooms, 2.5 bathrooms, and an office that can serve as an additional bedroom, with a total of 2,256 square feet of living space. The borrower will refinance the subject property if the builds and the sales take longer than anticipated.
- Loan Amount: $380,000
- Date: December 2024
