Borrower requested a $150,000 loan, to purchase a single-family property in Weeki Wachee, Florida. The borrower paid $275,000 for the property and has a $25,000 construction budget planned that is primarily cosmetic upgrades. Borrower plans to lease the property for as an airbnb rental after the renovation and refinance as an exit to the loan
Collateral:
Type: New Construction
Description:
This loan totals $1,590,000, with $260,000 disbursed at closing, secured by a double-lot land asset located in Safety Harbor, Florida. The site consists of approximately 0.26 acres, and the borrower intends to subdivide the parcel and construct two new single-family homes. Each residence is planned as a two-story property featuring four bedrooms, four bathrooms, a two-car garage, and approximately 3,000 square feet of living space.
- Loan Amount: $1,590,000
- Date: February 2026
