Borrower requested a $51,000 loan to purchase a 3 bed 2 bath manufactured mobile home in Montverde, Florida. The property is being purchased for $85,000 and the borrower is planning a $35,000 cosmetic renovation. Borrower is a repeat client of DKC Lending.
Collateral:
Type: Refinance
Description:
This is a $100,000 refinance loan request at 50% loan-to-value (LTV), secured by a Lake Worth, Florida condominium unit. The property has two bedrooms, two and a half bathrooms, and approximately 1,500 square feet of living space. Borrower plans to complete the renovation and exit the loan through a conventional property sale.
- Loan Amount: $100,000
- Date: June 2025