Borrower requested a $100,000 loan to refinance a single-family property in Zephyrhills, Florida. The property features 2 beds and 1 bath at 864 sq/ft on a 6,340 sq/ft lot and is currently in the process of completing a remodel. The borrower plans to list the property for sale after the renovation is complete as an exit to this loan.
Collateral:
Type: Refinance
Description:
Borrower is secured by four properties: a luxury condominium in Miami, FL; a single-family home in Roswell, GA; and two properties in Greenwood, SC—a commercial building and a single-family home. The borrower intends to refinance the loan using a DSCR (Debt Service Coverage Ratio) product.
- Loan Amount: $1,050,000
- Date: November 2024