Borrower requested a $575,000 1st position loan on a single-family property in Geneva, Florida. The property features 5 beds and 3 baths at 4,408 sq/ft with an ADU. The borrower plans to sell another asset as an exit to this loan.
Collateral:
Type: Refinance
Description:
This is a $550,000 loan request to finance the construction of a single-family property in Cape Coral, Florida. The planned property includes two stories, four bedrooms, four bathrooms, a two-car garage, an executive office, an inground pool, and 3,199 square feet of living space on a canal with a boat dock providing access to the Gulf of Mexico. The borrower plans to refinance as the exit strategy for this loan.
- Loan Amount: $550,000
- Date: January 2025