Borrower requested a $700,000 loan to refinance 3 single-family properties in Palm Bay and
Melbourne Flordia. This refinance will serve as a short-term bridge to long-term debt, once there is seasoning on the new leases.
Collateral:
Type: Refinance
Description:
This is a $100,000 refinance loan request at 50% loan-to-value (LTV), secured by a Lake Worth, Florida condominium unit. The property has two bedrooms, two and a half bathrooms, and approximately 1,500 square feet of living space. Borrower plans to complete the renovation and exit the loan through a conventional property sale.
- Loan Amount: $100,000
- Date: June 2025