Borrower requested a $60,000 loan to refinance a duplex property in Tampa, Florida. The borrower purchased the property in 2003 and currently has the property leased for a combined $1,925/ month as annual rentals. The property features 2 units, each with 1 bed and 1 bath at a combined 1,290 sq/ft with an exterior laundry room. The borrower plans to refinance as an exit from the loan.
Collateral:
Type: Refinance
Description:
This is a $60,000 refinance loan request secured by a free-and-clear single-family home located in Lehigh Acres, Florida. The subject property is a 3-bedroom, 1-bathroom residence offering 920 square feet of living space. The primary exit strategy for the loan is repayment through cash flow from business and secondary option is to refinance into a DSCR loan if additional time is needed.
- Loan Amount: $60,000
- Date: October 2025
