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: New Construction
Description:
This request is for a $260,000 new construction loan secured by two to-be-built single-family homes (to be built) and two additional neighboring subdivided lots pledged as collateral. The first will consist of three bedrooms, two bathrooms, approximately 1,704 square feet of living area, and a two-car garage. The second will include three bedrooms, 2.5 bathrooms, approximately 1,777 heated square feet, and a two-car garage. Borrower primary exit strategy is to sell the property after completion.
- Loan Amount: $260,000
- Date: March 2026
