Borrower requested a $360,000 loan to purchase a townhome property in Indian Rocks Beach, Florida. The property is a 1,412 sq. ft. 2-bedroom, 2-bathroom residence with an additional 675 sq. ft. of storage space. The borrowers additionally pledged free and clear collateral to the loan, and plan to 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