Borrower requested a $1,300,000 loan to refinance a duplex property in Pompano Beach, Florida. The property features 2 units, each with 3 beds and 3.5 baths at 5,702 total sq/ft. The borrower plans to complete a full rehab and then sell the property 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
