Borrower requested a $110,000 loan to refinance a duplex in Palmetto, Florida. The property features two, 2 bedroom & 1 bathroom units totaling 1,296 sq/ft (4 units). The borrower plans to lease the property for an annual rental after the renovation and refinance as an exit to the loan.
Collateral:
Type: Refinance
Description:
This is a $120,000 refinance loan request secured by a single-family residence located in Jacksonville, FL. The home features four bedrooms, three bathrooms, approximately 4,845 square feet of living space, a three-car garage, an in-ground pool, and is situated on nearly a half-acre lot. As an exit strategy, the borrower is considering both refinancing into a 30-year conventional mortgage and the potential sale of the property.
- Loan Amount: $120,000
- Date: August 2025
