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 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
