Borrower requested a $650,000 new construction loan to begin construction of a single-family residence in Tampa, Florida. When completed, the property will feature 4 bedrooms and 4 bathrooms, with a covered lanai and 3,105 square feet of living space. The borrower plans to list the property for sale as an exit to the loan.
Collateral:
Type: Refinance
Description:
This is a $120,000 refinance loan request secured by a single-family residence located in Jacksonville, FL. The home features four bedrooms, three bathrooms, approximately 4,845 square feet of living space, a three-car garage, an in-ground pool, and is situated on nearly a half-acre lot. As an exit strategy, the borrower is considering both refinancing into a 30-year conventional mortgage and the potential sale of the property.
- Loan Amount: $120,000
- Date: August 2025