Borrower requested a $535,000 loan to refinance a single-family property in Naples, Florida. The property features 4 beds and 7 baths at 7,240 sq/ft sitting on a 0.82 acre lot. The borrower is selling another investment property simultaneously and will use sale proceeds 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