Borrower requested a $110,000 refinance on a single-family new construction property in Wimauma, Florida. The borrower purchased the land for $40,000 in 2014 and invested roughly $273,000 to date in building a new construction single-family home. The property features 4 beds and 4 baths at 3,804 total sq/ft. Borrower will use the loan proceeds to fund the completion of the build, as he has used cash to this point, and plans to refinance and occupy the property as an exit to the loan.
Collateral:
Type: Fix and Lease
Description:
Borrower requested a $150,000 loan to purchase a manufactured property in Tampa, Florida. The manufactured home was built in 2017 and features 3 beds and 2 baths at 1,512 sq/ft sitting on a 1.24 acre lot. Borrower intends to refinance the loan.
- Loan Amount: $150,000
- Term: 1 Year
- Date: March 2023
