Borrower requested a $324,000 loan, to purchase and renovate a single family home in Lutz, Florida. The property was purchased for $464,000 and the borrower is completing an estimated $250,000 extensive remodel including an addition with their own cash. The Borrower is a 40 year + General Contractor in New York, Nevada and Florida, and also designs plans himself. Borrower will exit the loan with a bank refinance upon completion of construction.
Collateral:
Type: New Construction
Description:
Borrower requested a $110,000 loan to complete construction of a single-family property in Lehigh, Florida. The property features 4 bedrooms and 3 bathrooms, 2,152 square feet of living space, and a 2-car garage on a 0.25-acre lot. Borrower plans to lease the property for an annual rental after the renovation and refinance as an exit to the loan.
- Loan Amount: $110,000
- Date: July, 2026
