Borrower requested a $124,000 loan to purchase and remodel a single-family home in
Winter Haven Florida, while additionally pledging a cash-flowing single-family rental property in
Mulberry, Florida as collateral for the loan. The single-family home is being purchased for $105,000
and has a $30,000 remodel planned.
Collateral:
Type: Refinance
Description:
The borrower has requested a $168,000 loan to refinance a single-family property in Orlando, Florida, owned free and clear. This 950 sq. ft. property features 3 bedrooms, 1 bathroom, and a carport. The capital from this refinance will be used to purchase and rehabilitate another investment property, further expanding the borrower’s portfolio. The borrower plans to exit the loan through a DSCR refinance.
- Loan Amount: $168,000
- Date: October 2024