This was a $115,000 new construction loan request for a single-family property located in Port Charlotte, Florida. Once finished, the property will feature 3 bedrooms, 2 bathrooms, and 1,199 square feet of living space, complemented by 611 square feet of additional space for a lanai, 2-car garage, and front porch. They plan to sell the property upon completion as their primary loan exit strategy.
Collateral:
Type: New Construction
Description:
This request is for a $260,000 new construction loan secured by two to-be-built single-family homes (to be built) and two additional neighboring subdivided lots pledged as collateral. The first will consist of three bedrooms, two bathrooms, approximately 1,704 square feet of living area, and a two-car garage. The second will include three bedrooms, 2.5 bathrooms, approximately 1,777 heated square feet, and a two-car garage. Borrower primary exit strategy is to sell the property after completion.
- Loan Amount: $260,000
- Date: March 2026
