Borrower requested a $250,000 loan to purchase a single family property in Temple Terrace, Florida. Property is a 3 bed 2 bath a 1,915 sq/ft. The borrower paid $307,000 for the property and has a $68,000 construction budget planned in which DKC Lending will have a $35,000 construction holdback.
Collateral:
Type: Refinance
Description:
The borrower has requested an $850,000 loan for a multifamily quadplex located in Tampa, Florida. The property consists of two detached buildings, offering three 1-bedroom, 1-bath units and one 2-bedroom, 1-bath unit totaling 1,596 sq. ft. One building features unregistered living space due to the conversion of a 2-car garage into a laundry room and additional living area. The borrower plans to refinance as an exit from the loan.
- Loan Amount: $850,000
- Date: October 2024