Borrower requested a $35,000 loan to refinance a single-family property in Pensacola, Florida. The borrower purchased the lot in 2022 and has since constructed a single-family residence, currently in the drywall stage. The property features 4 beds and 2.5 baths at 2,515 sq/ft. The borrower plans to refinance the property as an exit to the loan.
Collateral:
Type: New Construction
Description:
This is a $380,000 new construction loan request for a single-family property located in St. Augustine, FL. The home will feature 3 bedrooms, 2.5 bathrooms, and an office that can serve as an additional bedroom, with a total of 2,256 square feet of living space. The borrower will refinance the subject property if the builds and the sales take longer than anticipated.
- Loan Amount: $380,000
- Date: December 2024
