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 $100,000 refinance loan request at 50% loan-to-value (LTV), secured by a Lake Worth, Florida condominium unit. The property has two bedrooms, two and a half bathrooms, and approximately 1,500 square feet of living space. Borrower plans to complete the renovation and exit the loan through a conventional property sale.
- Loan Amount: $100,000
- Date: June 2025