Borrower requested a $330,000 loan, to purchase a single family property in Tampa FL. The borrower payed $475,000 for the property and has plans to build two townhomes once the current lease in place expires in 06/01/22. Borrower is an experience builder, who has also recently performed multiple similar projects in the same area.
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