The borrower requested a $150,000 loan to refinance a single-family property in Wesley Chapel, Florida. The property features 4 beds and 2 baths at 2,070 sq/ft and is currently leased for $2,500/month. The borrower plans to keep leasing this property for an annual rental and refinance into a DSCR program as an exit from the loan.
Collateral:
Type: New Construction
Description:
This is a $480,000 new construction loan request, with $200,000 funded at closing, secured by a non-waterfront single-family-zoned lot in Redington Shores, Florida. The project will consist of a three-story, coastal-style home featuring three bedrooms, three bathrooms, approximately 2,072 heated square feet, and a two-car garage. The primary exit strategy is a retail sale.
- Loan Amount: $480,000
- Date: February 2026
