Borrower requested a $250,000 new construction loan on a duplex property in Lake Wales, Florida. The property will feature 2 units with 3 beds and 2 baths at 1,450 sq/ft each. Borrower plans to lease both units upon completion and refinance into a DSCR program as an exit to the loan.
Collateral:
Type: Refinance
Description:
The borrower is requesting a $125,000 first-lien refinance secured by a vacant lakefront parcel located on Lakeside Dr.,Lutz, FL. The collateral consists of a 0.42-acre irregular-shaped unimproved lot with approximately 80 linear feet of direct frontage on a private ski lake. The borrower’s exit strategy is an o sale of the subject parcel.
- Loan Amount: $125,000
- Date: September 2026
