Borrower requested a $460,000 loan to purchase a 19.89 acre land parcel in Dade City, Florida. The secon collateral is a manufactured mobile home that features 4 bedrooms and 3.5 baths at 2,920 sq/ft on a 2.74-acre lot. The borrower plans to refinance as an exit to the loan.
Collateral:
Type: New Construction
Description:
This is a $200,000 new construction loan request for a single-family home located in Fort Myers, FL. Upon completion, the property will comprise two separate structures: the main residence, which features seven bedrooms and six bathrooms across 1,837 heated square feet, and a 550-square-foot studio suite, totaling 2,387 square feet of heated living area. Borrower exit strategy for this particular property is a long-term hold, with plans to refinance using a debt-service coverage ratio (DSCR) loan.
- Loan Amount: $200,000
- Date: June 2025