Borrower requested a $135,000 loan to purchase a single-family property (including an additional empty lot) in Spring Hill, Florida. The borrower paid $193,000 for the property and has a $57,000 construction budget planned, which includes adding a new manufactured home on the vacant lot. The property features 3 beds and 1 bath at 906 sq/ft. Borrower will be performing all of the renovations himself and plans to sell the property once the renovations are completed as an exit to the loan.
Collateral:
Type: Refinance
Description:
The borrower requested a $300,000 loan to refinance the property located at Larry Rd, Spring Hill, FL. This property has 2 manufactured homes retired to the land. The borrower is pledging additional collateral located at 60th St, Tampa, FL. The borrower has proven liquidity and plans to repay this loan at maturity.
- Loan Amount: $300,000
- Date: March 2025