Borrower requested a $95,000 loan to purchase a manufactured home in Gibsonton, Florida. The borrower paid $145,000 for the property and has a $20,500 construction budget planned, primarily cosmetic. The property features 3 beds and 3 baths at 1,428 sq/ft. Borrower has plans to sell this property for a profit as an exit to the loan.
Collateral:
Type: Refinance
Description:
This request is for a $400,000 refinance loan secured by a single-family residence located in the Walden Lake Community in Plant City, Florida. The property features three bedrooms, five bathrooms, and an executive office that can also serve as an additional bedroom. The residence offers 4,444 square feet of living space on a 0.37-acre lot and is situated directly on a private golf course. Borrower exit strategy is to refinance into a DSCR loan after liquidating other investments.
- Loan Amount: $400,000
- Date: October 2025