Borrower requested a $210,000 loan to refinance a single-family property in Spring Hill, Florida. The property features 4 beds and 3 baths at 2,162 sq/ft. The borrower will use the proceeds of the loan to make improvements to the property, lease the property as an annual rental after the renovation, and refinance as an exit to the 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
