The borrower requested a $1.2M loan to refinance a single-family property and a vacant piece of land in North Miami, Florida. The single-family property features 7 bedrooms, 4 bathrooms, and 4,534 square feet of living space. The borrower is planning to renovate the SFR and then refinance as an exit to the loan.
Collateral:
Type: New Construction
Description:
This is a $255,000 new construction loan request for a duplex located in Lake Wales, FL. The proposed duplex will consist of two units, each featuring three bedrooms, two bathrooms, and approximately 1,005 square feet of living space, totaling six bedrooms, four bathrooms, and 2,010 square feet of combined living space. Borrower’s refinancing strategy is designed to manage debt and cash flow based on rental income.
- Loan Amount: $255,000
- Date: June 2025
