Borrower requested a $50,000 loan to purchase a $91,900 property in Zephyrhills, Florida that features both a manufactured home & single family structure on the lot. The property is set to undergo a $34,000 remodel that the borrower is using their personal capital to perform.
Collateral:
Type: Refinance
Description:
Borrower is secured by four properties: a luxury condominium in Miami, FL; a single-family home in Roswell, GA; and two properties in Greenwood, SC—a commercial building and a single-family home. The borrower intends to refinance the loan using a DSCR (Debt Service Coverage Ratio) product.
- Loan Amount: $1,050,000
- Date: November 2024