Borrower requested a $147,000 loan to purchase a duplex property in Bradenton, Florida. The borrower paid $195,000 and has a $25,000 cosmetic construction budget planned. Borrower owns a construction company and plan to self fund and perform the renovation. The property features 2 units each with 1 bed and 1 bath at 784 sq/ft each. Borrower plans to rent the property post renovation and exit the loan with a long term debt refinance.
Collateral:
Type: Refinance
Description:
Borrower requested a $125,000 loan to refinance a single-family property located in Deltona,
Florida. The property features 4 beds and 2 baths at 1,668 sq/ft. The property is currently leased as an annual rental. Borrower plans to refinance as an exit to the loan.
- Loan Amount: $125,000
- Date: September 2023
