Borrower requested a $40,000 loan to purchase a single-family property in Tallahassee, Florida. The property features 3 beds and 2 baths at 940 sq/ft sitting on a 5,227 sq/ft lot. The borrower plans to list the property for sale after the renovation is complete as an exit to this loan.
Collateral:
Type: New Construction
Description:
This is a $380,000 new construction loan request for a single-family property located in St. Augustine, FL. The home will feature 3 bedrooms, 2.5 bathrooms, and an office that can serve as an additional bedroom, with a total of 2,256 square feet of living space. The borrower will refinance the subject property if the builds and the sales take longer than anticipated.
- Loan Amount: $380,000
- Date: December 2024
