Borrower requested a $124,000 loan to purchase and remodel a single-family home in
Winter Haven Florida, while additionally pledging a cash-flowing single-family rental property in
Mulberry, Florida as collateral for the loan. The single-family home is being purchased for $105,000
and has a $30,000 remodel planned.
Collateral:
Type: New Construction
Description:
This is a new construction loan for a single-family residence to be developed in Plant City, Florida. The proposed structure will feature six bedrooms, six bathrooms, and a two-car garage, totaling approximately 3,664 square feet. The primary exit strategy is to sell the completed property.
- Loan Amount: $460,000
- Date: April 2025