Borrower requested a $110,000 loan to refinance a single-family property in Frost Proof, Florida. The property features 3 beds and 1 bath at 1,153 sq/ft on a 6,612 sq/ft lot. The borrower plans to refinance or pay off this loan with the proceeds of a new flip project.
Collateral:
Type: New Construction
Description:
This is a new construction loan for a single-family residence to be developed in Plant City, Florida. The proposed structure will feature six bedrooms, six bathrooms, and a two-car garage, totaling approximately 3,664 square feet. The primary exit strategy is to sell the completed property.
- Loan Amount: $460,000
- Date: April 2025