Borrower requested a $85,000 loan to purchase a single-family fix and flip property in Eustis, Fl. The borrower paid $64,000 for the property and has a $45,000 total construction budget planned with a draw schedule from DKC. The property features 3 beds and 1 bath at a total 908 sq/ft. Borrower plans to rehab the property and then sell the property after the renovation as an exit to the loan.
Collateral:
Type: Refinance
Description:
This is a $100,000 refinance loan request at 50% loan-to-value (LTV), secured by a Lake Worth, Florida condominium unit. The property has two bedrooms, two and a half bathrooms, and approximately 1,500 square feet of living space. Borrower plans to complete the renovation and exit the loan through a conventional property sale.
- Loan Amount: $100,000
- Date: June 2025