Borrower requested a $110,000 loan to purchase a $190,000 property in Homosassa, FL that includes a 1.64 acres featuring 5 manufactured mobile homes. All 5 units are currently leased for a combined $2,275/month, and the borrower is planning minor repairs and updates estimating around $5,000-$7,000 per unit. This purchase includes an additional parcel that was not in the previous $115,000 sale in 2020.
Collateral:
Type: New Construction
Description:
This is a $200,000 new construction loan request secured by a single-family new construction project in Tampa, FL. The subject property will feature 3 bedrooms and 2 bathrooms, a 1-car garage with 1,176 square feet of living space. The borrower plans to refinance the property as an exit to this loan.
- Loan Amount: $$200,000
- Date: May 2026
