Borrower requested a $423,000 loan to purchase a single-family, fix and lease property in Terra Ceia, Florida. The borrower is paying $650,000 for the property which includes 5+ acres and 3 beds and 2 baths at 1,847 sq/ft. Borrower plans to complete a primarily cosmetic renovation to the main home. Borrower has been approved for a 80% LTV refinance as exit to this loan.
Type: Fix and Lease
Borrower requested a $187,000 loan to purchase a single-family property in Plant City, Florida. The borrower paid $250,000 for the property in Plant City and has a $46,000 rehab budget planned. The property features 3 beds and 1 bath at 1,440 sq/ft sitting on a 5.04 acre lot. Borrower plans to lease the property as an annual rental after the renovation and refinance as an exit to the loan.