Borrower requested a $137,000 loan to purchase a single-family property in Panama City, Florida. The borrower paid $195,000 for the property and has a $27,000 construction budget planned. The property features 4 beds and 2.5 baths at 1840 sq/ft. Borrower plans to sell the property for a profit once the renovation is completed, ARV estimated around $275,000+.
Collateral:
Type: Refinance
Description:
Borrower requested a $155,000 loan to refinance a single-family property in Tampa, Florida. The property features 2 beds and 1 bath at 1,108 sq/ft, and is tenant occupied. The borrower is using proceeds to complete a build at a different location and will sell the other investment property to exit the loan.
- Loan Amount: $155,000
- Date: July 2024