Borrower requested a $220,000 new construction loan to build a single-family home, in St. Petersburg, Florida. The construction plans consist of a 1,232 sq/ft main home, with an additional ADU that features a 2 car garage and 624 heated sq/ft. The borrower has a $290,000 total construction budget planned, and has currently spent $75,000 on the construction and $30,000 on the land. The slab and block construction have been completed, along with the truss order. The property will consist of a 3 bed and 2 bath and a 1 bed 1 bath efficiency.
Collateral:
Type: New Construction
Description:
This is a $200,000 new construction loan request secured by a single-family new construction project in Tampa, FL. The subject property will feature 3 bedrooms and 2 bathrooms, a 1-car garage with 1,176 square feet of living space. The borrower plans to refinance the property as an exit to this loan.
- Loan Amount: $$200,000
- Date: May 2026
