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.
Collateral:
Type: Refinance
Description:
Borrower requested a $155,000 loan to refinance a single-family property in Tampa, Florida. The property features 2 beds and 1 bath at 1,108 sq/ft, and is tenant occupied. The borrower is using proceeds to complete a build at a different location and will sell the other investment property to exit the loan.
- Loan Amount: $155,000
- Date: July 2024
