Borrower requested a $350,000 loan to purchase a single family property in Inverness FL, that is currently being operated as a bed and breakfast. Additionally, the borrower is pledging a mixed use property located in Tampa, FL as collateral for the loan. The SFR features 3,134 SqFt, and 3 bed 4 baths, while the mixed use property features 2 main buildings and 4 tenants for a combined $6,400/month.
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