Borrower requested a $135,000 loan to refinance a single-family property in St. Petersburg, Florida. Borrower purchased the property for $42k in 2013, and has since fully remodelled the home, and lived in it. Borrower is now moving out of the home and plans to rent the property for an annual rental. The property features 2 beds and 2 baths at 1,318 sq/ft.
Collateral:
Type: New Construction
Description:
The borrower requested a $130,000 new construction loan on a single-family property in Spring Hill, FL. The property features a modern layout with 4 bedrooms, 3.5 bathrooms, a 2-car garage, and 2,687 sq. ft. of living space. It is situated on an oversized 0.35-acre lot. The borrower plans to sell the completed property as an exit to the loan.
- Loan Amount: $130,000
- Date: November 2024