Borrower requested a $92,000 loan to purchase a manufactured home property in Tampa, Florida. The borrower paid $140,000 for the property and has a $15,000 construction budget planned, where DKC will provide a draw schedule. The property features 2 beds and 2 baths at 1,280 sq/ft. Borrower plans to refinance and hold the property as an annual rental as an exit the loan.
Collateral:
Type: Refinance
Description:
Borrower requested a $85,000 loan to refinance a single-family fix and flip property in Sanford, Florida. The property will feature 3 bedrooms, 2 bathrooms, and 1,242 square feet of living space upon completion. The home sits on a desirable double lot totaling 0.48 acres and overlooks a pond. The borrower plans to list the property for sale after the renovation as an exit to the loan.
- Loan Amount: $85000
- Date: January 2025