Borrower requested a $286,500 loan to purchase a single-family property in Tampa, Florida. The borrower paid $382,000 for the property and has a $18,000 construction budget planned. The property features 3 beds and 2 baths at 1,943 sq/ft that also includes a 2 car garage. The borrower plans to renovate the property himself and then refinance as an exit strategy.
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