Borrower requested a $105,000 loan, to purchase a single family property in Ocala, Florida. The borrower is paying $150,000 for the property and has a $25,000 construction budget planned. Borrower works for a construction company and will be performing the majority of the work himself. Borrower plans to lease the property for as an annual rental after the renovation and refinance as an exit to the loan. Recent appraisal is available.
Collateral:
Type: Refinance
Description:
This request is for a $400,000 refinance loan secured by a single-family residence located in the Walden Lake Community in Plant City, Florida. The property features three bedrooms, five bathrooms, and an executive office that can also serve as an additional bedroom. The residence offers 4,444 square feet of living space on a 0.37-acre lot and is situated directly on a private golf course. Borrower exit strategy is to refinance into a DSCR loan after liquidating other investments.
- Loan Amount: $400,000
- Date: October 2025