Borrower requested a $126,000 loan to purchase a single family property in Port Saint Lucie, Florida. The property is being purchased for $180,000 with the intent of completing a $27,500 remodel (borrower using their own capital for the renovations) before selling the home for a profit. Improvements include a new HVAC system, Roof replacement and a complete cosmetic upgrade. The borrower is a licensed general contractor and will be performing the work himself.
Collateral:
Type: Refinance
Description:
Borrower requested a $200,000 refinance loan secured by a single-family residence in Tampa, Florida. Built in 1980, the property features 3 bedrooms, 2 bathrooms, and 1,562 square feet of living space situated on a 0.19-acre lot. Upon completion of the renovations, the borrower intends to refinance into a long-term DSCR loan as the exit strategy.
- Loan Amount: $200,000
- Date: August 2026
