This is a $510,000 refinance loan secured by a single-family property in Palm Harbor and a multi-family property in Tarpon Springs, Florida. The Palm Harbor home is waterfront with 4 bedrooms, 3 bathrooms, 3,640 sq ft, and a detached 2-car garage. The Tarpon Springs property, classified as Multi-Fam <10 Units, sits on Lake Tarpon and includes two structures: a 3-bed, 1-bath, 1,522 sq ft home, and a 580 sq ft studio with 1 bath, on a 0.65-acre lot. The borrower plans to renovate Trent Rd and sell it as the loan exit.
Collateral:
Type: Fix and Lease
Description:
This financing opportunity involves a $2.5 million lending request structured as two interest-only mortgages with a 2-year term and 12% fixed interest. The transaction includes a commercial acquisition loan supported by multiple commercial real estate assets, along with a separate residential refinance, resulting in a conservative overall loan-to-value ratio backed by substantial collateral. The primary exit strategy is to refinance the commercial property.
- Loan Amount: $2,500,000
- Date: July 2026
