This is a $120,000 refinance loan request secured by a free-and-clear single-family residence located in Lakeland, Florida. The property was built in 1972 and consists of three bedrooms, two bathrooms, and approximately 1,624 square feet of living space, situated on a 0.35-acre lot with a two-car garage. The borrower is completing this refinance as an exit strategy, with the intent to transition into a DSCR loan.
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
