Borrower requested a $108,000 loan to purchase a single-family property in Panama City, Florida. The borrower paid $155,000 for the property and has a $22,000 construction budget planned that is primarily cosmetic. The property features 3 beds and 2 baths at 1,215 sq/ft. Borrower plans to sell the property for a profit once the renovation is completed, ARV estimated around $290,000+.
Collateral:
Type: Refinance
Description:
This request is for a $110,000 refinance loan secured by a single-family residence located in Palmetto, Florida. The subject property was built in 2001 and consists of a 3-bedroom, 2-bathroom home with 1,060 square feet of living area and a one-car garage. Borrower will refinance as the loan’s exit strategy.
- Loan Amount: $110,000
- Date: January 2026
