This request is for a $450,000 new construction loan, with $125,000 to be funded at closing, secured by a new construction single family proeprty located in Dover, Florida. The property will feature a two-story single-family residence with four bedrooms and four bathrooms, totaling 3,745 square feet of living area and a two-car garage, situated on a 1.2-acre lakefront lot backing up to a private lake. The primary exit strategy is a refinance into long-term financing upon completion, though the borrower has stated he would consider a sale if market conditions warrant.
Collateral:
Type: New Construction
Description:
Borrower requested a $110,000 loan to complete construction of a single-family property in Lehigh, Florida. The property features 4 bedrooms and 3 bathrooms, 2,152 square feet of living space, and a 2-car garage on a 0.25-acre lot. Borrower plans to lease the property for an annual rental after the renovation and refinance as an exit to the loan.
- Loan Amount: $110,000
- Date: July, 2026
