Borrower requested a $100,000 loan to refinance a single-family property in Zephyrhills, Florida. The property features 2 beds and 1 bath at 864 sq/ft on a 6,340 sq/ft lot and is currently in the process of completing a remodel. The borrower plans to list the property for sale after the renovation is complete as an exit to this loan.
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