Borrower requested a $158,000 loan to purchase a single-family property in Tampa, Florida. The property features 2 beds and 1 bath at 975 sq/ft on a 6,242 sq/ft lot and is currently in framing, in need of a full remodel. Borrower plans to list the property for sale
after the renovation as an exit to the loan.
Collateral:
Type: New Construction
Description:
This is a $380,000 new construction loan request for a single-family property located in St. Augustine, FL. The home will feature 3 bedrooms, 2.5 bathrooms, and an office that can serve as an additional bedroom, with a total of 2,256 square feet of living space. The borrower will refinance the subject property if the builds and the sales take longer than anticipated.
- Loan Amount: $380,000
- Date: December 2024
