Borrower requested a $75,000 loan to purchase a condominium in Temple Terrace, Florida. The borrower paid $140,000 for the property and has a $15,000 construction budget planned. The property features 1 bed and 1 bath at 754 sq/ft. Borrower plans to lease the property for as an annual rental after the renovation and refinance as an exit to the loan.
Collateral:
Type: Refinance
Description:
The borrower is requesting a $125,000 first-lien refinance secured by a vacant lakefront parcel located on Lakeside Dr.,Lutz, FL. The collateral consists of a 0.42-acre irregular-shaped unimproved lot with approximately 80 linear feet of direct frontage on a private ski lake. The borrower’s exit strategy is an o sale of the subject parcel.
- Loan Amount: $125,000
- Date: September 2026
