Borrower requested a $220,000 loan to purchase a single-family property in Cape Coral, Florida. The borrower is planning to complete a renovation on the property that features 3 beds and 2 baths at 1,458 sq/ft on a 9,757 sq/ft lot. Borrower plans to complete the renovation and sell for a profit as an exit to the loan.
Collateral:
Type: Refinance
Description:
The borrower has requested an $850,000 loan for a multifamily quadplex located in Tampa, Florida. The property consists of two detached buildings, offering three 1-bedroom, 1-bath units and one 2-bedroom, 1-bath unit totaling 1,596 sq. ft. One building features unregistered living space due to the conversion of a 2-car garage into a laundry room and additional living area. The borrower plans to refinance as an exit from the loan.
- Loan Amount: $850,000
- Date: October 2024