Borrower requested a $195,000 loan to purchase a mid-construction single-family property in Winter Haven, Florida. Upon completion of the project, the property will feature 2 beds and 2 baths at 1,470 living square feet. The borrower additionally pledged a rental property as collateral to the loan and intends to list the new construction property upon project completion as an exit to the loan.
Collateral:
Type: New Construction
Description:
This is a $480,000 new construction loan request, with $200,000 funded at closing, secured by a non-waterfront single-family-zoned lot in Redington Shores, Florida. The project will consist of a three-story, coastal-style home featuring three bedrooms, three bathrooms, approximately 2,072 heated square feet, and a two-car garage. The primary exit strategy is a retail sale.
- Loan Amount: $480,000
- Date: February 2026
