Borrower requested a $1,000,000 loan to refinance a new construction, single-family property in Odessa, Florida. The property features 4 beds and 4.5 baths at 4,190 sq/ft sitting on a 2.66 acre lot. Borrower plans to lease the property before listing for sale as an exit to the loan.
Collateral:
Type: Refinance
Description:
This is a $350,000 refinance loan request secured by two residential dwellings on a single 1.5-acre parcel in Kissimmee, FL. The main residence at Cahokia Ct is a single-family home with four bedrooms, three bathrooms, approximately 2,977 square feet of living space, and an in-ground pool. The second dwelling was newly constructed in 2024 on the same parcel. This structure includes three bedrooms, one bathroom, approximately 1,300 square feet of living space, and a one-car garage. The proposed exit strategy for this loan is to refinance the subject property into a DSCR loan.
- Loan Amount: $350,000
- Date: May 2025