Borrower requested a $200,000 loan to refinance a single-family property in Fort Lauderdale, Florida. The property features 3 beds and 2 baths at 1,087 sq/ft. The borrower plans to use the funds to renovate another investment property. The borrower intends to sell an investment property to exit the loan.
Collateral:
Type: Refinance
Description:
This is a $400,000 refinance loan request for a quadplex in Treasure Island, FL, which the borrower owns free and clear. The property consists of four one-bedroom, one-bathroom units, each measuring 527 square feet, for a total living space of 2,108 square feet. Borrower plans to make monthly interest payments using the property’s cash flow and available reserves.
- Loan Amount: $400,000
- Date: March 2025