Borrower requested a $65,000 cash out refinance loan, pledging a recently purchased and renovated manufactured mobile home property in Lakeland, Florida as collateral. The property was purchased in September 2021 for $117,400, and is currently in the middle of a renovation in which the borrower has spent $40,000 of a $55,000 total rehab budget since the purchase.
Collateral:
Type: New Construction
Description:
This is a $120,000 new construction loan request secured by a single-family home located in Spring Hill, Florida. The property is being built as a 4-bedroom, 2-bathroom residence with a 2-car garage, totaling 2,123 square feet. The home is fully dried in, with interior drywall and texture finished, bathroom tile installed, and all exterior work complete except for landscaping and the driveway. The planned exit strategy is to sell the property upon completion.
- Loan Amount: $120,000
- Date: September 2025
