Borrower requested a $423,000 loan to purchase a single-family, fix and lease property in Terra Ceia, Florida. The borrower is paying $650,000 for the property which includes 5+ acres and 3 beds and 2 baths at 1,847 sq/ft. Borrower plans to complete a primarily cosmetic renovation to the main home. Borrower has been approved for a 80% LTV refinance as exit to this loan.
Collateral:
Type: Refinance
Description:
The borrower is requesting a $125,000 first-lien refinance secured by a vacant lakefront parcel located on Lakeside Dr.,Lutz, FL. The collateral consists of a 0.42-acre irregular-shaped unimproved lot with approximately 80 linear feet of direct frontage on a private ski lake. The borrower’s exit strategy is an o sale of the subject parcel.
- Loan Amount: $125,000
- Date: September 2026
