The borrower requested a $225,000 loan to purchase a single-family property in Springhill, Florida. The borrower is additionally pledging a free & clear single-family property located in Spring Hill, which features 3 beds and 2 baths at 1,767 sq/ft and is currently rented. The Union Springs property features 2 beds and 2 baths at 1,235 sq/ft on a 0.23-acre lot. The borrower is planning to refinance as an exit to the loan.
Collateral:
Type: New Construction
Description:
Borrower requested a $425,000 loan to begin construction on a single-family property in Lakeland, Florida. The property will feature 4 beds and 3 baths at 3,727 sq/ft. The target sale price for the completed property is estimated $1.1 million.
- Loan Amount: $425,000
- Date: September 2024