Borrower requested a $360,000 loan to refinance a new construction, single-family property in Seffner, Florida. The Lime Ave property features 2,254 sq/ft with 4 beds and 3 baths. The property at 17th Ave St. Pete feature 2,232 sq/ft with 4 beds, 3 baths. Borrower will lease the Lime Ave property as an annual rental after the build and refinance as an exit to the loan.
Collateral:
Type: New Construction
Description:
This is a $255,000 new construction loan request for a duplex located in Lake Wales, FL. The proposed duplex will consist of two units, each featuring three bedrooms, two bathrooms, and approximately 1,005 square feet of living space, totaling six bedrooms, four bathrooms, and 2,010 square feet of combined living space. Borrower’s refinancing strategy is designed to manage debt and cash flow based on rental income.
- Loan Amount: $255,000
- Date: June 2025
