This request is for a $320,000 new-construction loan for a repeat borrower, secured by a single-family residence in Palmetto, Florida. The property is a newly constructed, two-story, elevated four-bedroom, two-bathroom home featuring approximately 2,243 SF of heated living. Upon completion, the borrower intends to list the property for approximately $650,000, with the sale serving as the primary exit strategy.
Collateral:
Type: New Construction
Description:
Borrower has requested $125,000 to complete construction of a two-story, wood-frame duplex in Augusta, GA. Each unit of the duplex will offer 1,580 square feet of living space, with 794 square feet on the first floor and 786 square feet on the second. The borrower’s primary exit strategy is to sell the completed duplex.
- Loan Amount: $125,000
- Date: October 2026
