Borrower requested a $135,000 loan to purchase a single family home in Lecanto, Florida. The borrower paid $180,000 for the property that features 3 beds and 2 bath’s at 1,550 sq/ft. Borrower plans to complete the renovation and then sell the property once finished.
Collateral:
Type: Refinance
Description:
The borrower has requested an $850,000 loan for a multifamily quadplex located in Tampa, Florida. The property consists of two detached buildings, offering three 1-bedroom, 1-bath units and one 2-bedroom, 1-bath unit totaling 1,596 sq. ft. One building features unregistered living space due to the conversion of a 2-car garage into a laundry room and additional living area. The borrower plans to refinance as an exit from the loan.
- Loan Amount: $850,000
- Date: October 2024