This was a $275,000 new construction loan request for a single-family home located in Saint Cloud, Florida. The borrower has approved plans to build a 3-bedroom, 2-bathroom SFR with an executive office and a 1-car garage, totaling 1,865 heated square feet and 2,390 total square feet. The borrower intends to sell a property as an exit to the loan.
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
