Borrower requested a $675,000 loan to purchase a single-family property in Odessa, Florida. The borrower is additionally pledging a single family home located on Belle Meade Blvd, Odessa, FL. The Armistead property features 4 beds and 3 baths at 4,048 sq/ft on a 0.64-acre lot. The borrower plans to sell the property after the renovation to exit 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