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 is a $60,000 refinance loan request secured by a free-and-clear single-family home located in Lehigh Acres, Florida. The subject property is a 3-bedroom, 1-bathroom residence offering 920 square feet of living space. The primary exit strategy for the loan is repayment through cash flow from business and secondary option is to refinance into a DSCR loan if additional time is needed.
- Loan Amount: $60,000
- Date: October 2025
