Address: Cape Coral, FL 33914
ARV: $300,000 (As-is)
Loan Amount: $150,000.00
Loan Structure: 12 Months Interest Only
Interest Rate: 12%
LTV 50%
Borrower Profile: Investor
Loan Purpose: Cash Out
July 11, 2023
In the previous year, the borrower acquired this vacant lot for $300,000 with the purpose of constructing and selling a house. The borrower has applied for cash out to cover expenses related to the preliminary stage of the construction loan. We will carefully assess and contemplate the approval of the construction loan once the client is ready for it.
