Borrower requested a $200,000 loan to purchase a single-family property located in Winter Haven, Florida. The borrower paid $300,000 for the property and has a $35,000 cosmetic construction budget planned. The property features a pool with 3 beds and 2 baths at 1,883 sq/ft.
Collateral:
Type: Refinance
Description:
Borrower is secured by four properties: a luxury condominium in Miami, FL; a single-family home in Roswell, GA; and two properties in Greenwood, SC—a commercial building and a single-family home. The borrower intends to refinance the loan using a DSCR (Debt Service Coverage Ratio) product.
- Loan Amount: $1,050,000
- Date: November 2024