The borrower requested a $150,000 loan to refinance a new construction single-family property in New Port Richey, Florida. The property is in the dried-in stage of construction and will feature 3 bedrooms, 2 bathrooms, 1,853 square feet of living space, a 2-car garage, and a home office. Their exit strategy for this loan is to sell the property.
Collateral:
Type: New Construction
Description:
This is a $255,000 new construction loan request for a duplex located in Lake Wales, FL. The proposed duplex will consist of two units, each featuring three bedrooms, two bathrooms, and approximately 1,005 square feet of living space, totaling six bedrooms, four bathrooms, and 2,010 square feet of combined living space. Borrower’s refinancing strategy is designed to manage debt and cash flow based on rental income.
- Loan Amount: $255,000
- Date: June 2025
