Borrower requested a $115,000 loan to purchase a single-family property in St. Petersburg, Florida. The property features 2 beds and 1 bath at 800 sq/ft. The borrower plans to lease the property for an annual rental after the renovation and refinance as an exit to the loan.
Collateral:
Type: Refinance
Description:
This is a $60,000 refinance loan request secured by a free-and-clear single-family home located in Lehigh Acres, Florida. The subject property is a 3-bedroom, 1-bathroom residence offering 920 square feet of living space. The primary exit strategy for the loan is repayment through cash flow from business and secondary option is to refinance into a DSCR loan if additional time is needed.
- Loan Amount: $60,000
- Date: October 2025
