Borrower requested a $185,000 loan to purchase a commercial office property in Saint Petersburg, Florida. The property features 1,606 sq/ft of office space. The borrower plans to lease the property for an annual rental after the renovation and refinance as an exit to the loan.
Collateral:
Type: Refinance
Description:
This is a $200,000 refinance loan request for a single-family property located in Kissimmee, FL. The asset is a 3-bedroom, 2-bathroom home with a 1-car garage spanning 1,485 sq. ft. The borrower intends to exit the loan through a DSCR refinance.
- Loan Amount: $200,000
- Date: October 2024