Borrower requested a $180,000 loan to refinance a single-family property in New Port Richey,
Florida. The property features 3 beds and 1 bath at 1,351 sq/ft with a detached 2nd dwelling. The borrower plans to complete the rehab of the property and then refinance as an exit to the 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