Borrower requested a $750,000 loan to purchase a single-family property in Pace, Florida. The borrower paid $305,000 for the property and is intending on leasing the property ASAP. Additionally, the borrower is pledging three condos in the Orlando area, currently operating as short-term rentals, all owned free and clear. The SFR property features 4 beds and 2 baths at 2003 sq/ft. The borrower is using the loan surplus to fund the purchase of 175 acres in Alabama for development. The borrower plans to refinance as an exit to the loan.
Collateral:
Type: Refinance
Description:
This is a $120,000 refinance loan request secured by a single-family residence located in Jacksonville, FL. The home features four bedrooms, three bathrooms, approximately 4,845 square feet of living space, a three-car garage, an in-ground pool, and is situated on nearly a half-acre lot. As an exit strategy, the borrower is considering both refinancing into a 30-year conventional mortgage and the potential sale of the property.
- Loan Amount: $120,000
- Date: August 2025