Borrower requested a $200,000 loan to purchase a manufactured property in Plant City, Florida. The borrower additionally pledged another property in Plant City, owned free and clear as collateral to the loan. Borrower plans to lease the property as an annual rental after the renovation and refinance as an exit to the loan.
Collateral:
Type: Fix and Lease
Description:
This request is for a $160,000 refinance loan , secured by a quadplex located in Lakeland, FL. The property, built in 1954, consists of four 2-bedroom, 1-bathroom units, each approximately 600 sq. ft., totaling 2,400 sq. ft. of heated living area, with four separate electrical meters and individual water connections. Borrower preferred exit strategy is to refinance.
- Loan Amount: $160,000
- Date: December 2025
