The borrower has requested a $400,000 loan to refinance three duplex properties in Tampa, Florida. The properties feature a total of 6 beds and 6 baths, with a combined 3,264 square feet of living space. Each unit includes 1 bed, 1 bath, and 544 square feet. The borrower plans to sell the subject properties as part of his exit strategy from the loan.
Collateral:
Type: New Construction
Description:
This is a new construction loan for a single-family residence to be developed in Plant City, Florida. The proposed structure will feature six bedrooms, six bathrooms, and a two-car garage, totaling approximately 3,664 square feet. The primary exit strategy is to sell the completed property.
- Loan Amount: $460,000
- Date: April 2025
