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: Refinance
Description:
This is a $400,000 refinance loan request for a quadplex in Treasure Island, FL, which the borrower owns free and clear. The property consists of four one-bedroom, one-bathroom units, each measuring 527 square feet, for a total living space of 2,108 square feet. Borrower plans to make monthly interest payments using the property’s cash flow and available reserves.
- Loan Amount: $400,000
- Date: March 2025