This is a $375,000 refinance/new-construction loan request secured by a single-family residence and the adjacent vacant lot in St. Petersburg, Florida. The existing home was built in 1953 and features 2 bedrooms, 1 bathroom, 624 square feet of living space, a one-car garage, and is situated on 0.26 acres. The primary strategy is to sell as an exit to the loan.
Collateral:
Type: Refinance
Description:
Borrower requested a $200,000 refinance loan secured by a single-family residence in Tampa, Florida. Built in 1980, the property features 3 bedrooms, 2 bathrooms, and 1,562 square feet of living space situated on a 0.19-acre lot. Upon completion of the renovations, the borrower intends to refinance into a long-term DSCR loan as the exit strategy.
- Loan Amount: $200,000
- Date: August 2026
