Borrower requested a $40,000 loan, to refinance a single-family property in Winter Haven, FL. The borrower is using the loan proceeds to satisfy a construction loan on the property. The borrower aims to exit the loan with a conventional bank refinance in the next 2-4 months. The property was recently appraised in June 2021 for $294,000.
Collateral:
Type: Refinance
Description:
Borrower requested a $200,000 refinance loan secured by a single-family residence in Tampa, Florida. Built in 1980, the property features 3 bedrooms, 2 bathrooms, and 1,562 square feet of living space situated on a 0.19-acre lot. Upon completion of the renovations, the borrower intends to refinance into a long-term DSCR loan as the exit strategy.
- Loan Amount: $200,000
- Date: August 2026
