Borrower requested a $230,000 new construction loan, to complete construction of a single-family home in St. Petersburg, Florida. Upon completion, the home will feature 3 bedrooms, 2 bathrooms, and 1,615 square feet of living space. The borrower intends to sell the property as the exit strategy.
Collateral:
Type: New Construction
Description:
Borrower has requested $125,000 to complete construction of a two-story, wood-frame duplex in Augusta, GA. Each unit of the duplex will offer 1,580 square feet of living space, with 794 square feet on the first floor and 786 square feet on the second. The borrower’s primary exit strategy is to sell the completed duplex.
- Loan Amount: $125,000
- Date: October 2026
