Borrower requested a $175,000 loan to purchase a single-family property in Fort Myers, Florida. The property features 3 beds and 2 baths at 2,033 sq/ft. The property is currently tenant-occupied on an annual lease. The borrower plans to keep the property as a rental and then refinance as an exit to the loan.
Collateral:
Type: New Construction
Description:
Borrower has requested $125,000 to complete construction of a two-story, wood-frame duplex in Augusta, GA. Each unit of the duplex will offer 1,580 square feet of living space, with 794 square feet on the first floor and 786 square feet on the second. The borrower’s primary exit strategy is to sell the completed duplex.
- Loan Amount: $125,000
- Date: October 2026