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 $150,000 loan to refinance a single-family property in St. Pete Beach, Florida. The borrower purchased the property in 2017 for $1,181,000. The property features 3 beds and 3 baths at 2,501 sq/ft. Borrower plans to sell the property in the next 3-6 months as an exit to the loan.
- Loan Amount: $150,000
- Term: 1 Year
- Date: November 2022
