This is a $420,000 new construction loan request for a single-family property in Polk City, Florida. The borrower is constructing a 6-bedroom, 5-bathroom home with 5,532 square feet of living space, including an inground pool, a 2-car garage, Starlink internet, and a Tesla roof for solar energy. The borrower plans to list the property upon completion as an exit strategy.
Collateral:
Type: New Construction
Description:
This loan totals $1,590,000, with $260,000 disbursed at closing, secured by a double-lot land asset located in Safety Harbor, Florida. The site consists of approximately 0.26 acres, and the borrower intends to subdivide the parcel and construct two new single-family homes. Each residence is planned as a two-story property featuring four bedrooms, four bathrooms, a two-car garage, and approximately 3,000 square feet of living space.
- Loan Amount: $1,590,000
- Date: February 2026
