Borrower requested a $200,000 loan to purchase a single-family property located in Winter Haven, Florida. The borrower paid $300,000 for the property and has a $35,000 cosmetic construction budget planned. The property features a pool with 3 beds and 2 baths at 1,883 sq/ft.
Collateral:
Type: Refinance
Description:
This is a $100,000 refinance loan request at 50% loan-to-value (LTV), secured by a Lake Worth, Florida condominium unit. The property has two bedrooms, two and a half bathrooms, and approximately 1,500 square feet of living space. Borrower plans to complete the renovation and exit the loan through a conventional property sale.
- Loan Amount: $100,000
- Date: June 2025