The borrower requested a $712,500 loan to purchase a single-family investment property in Tierra Verde, Florida. The borrower paid $950,000 for the property and has a $75,000 construction budget planned which includes adding a bathroom and around 235sq/ft. The property currently features 3 beds, 2 baths and 2,343 sq/ft. Borrower is planning to exit the loan with a long term debt refinance.
Collateral:
Type: Refinance
Description:
Borrower requested a $85,000 loan to refinance a single-family fix and flip property in Sanford, Florida. The property will feature 3 bedrooms, 2 bathrooms, and 1,242 square feet of living space upon completion. The home sits on a desirable double lot totaling 0.48 acres and overlooks a pond. The borrower plans to list the property for sale after the renovation as an exit to the loan.
- Loan Amount: $85000
- Date: January 2025