Borrower requested a $75,000 loan to purchase a manufactured home in Lakeland, Florida. The borrower paid $117,900 for the property and has a $27,500 construction budget planned. The property features 3 beds and 1 baths at 1,440 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:
This is a $155,000 refinance loan request, secured by a single-family residence located in Jacksonville, Florida. The subject property is a 3-bedroom, 2-bathroom home with 1,545 square feet of living area, a 1-car garage and an inground pool. The borrower will list the property for sale as the exit strategy to repay the loan in full.
- Loan Amount: $155,000
- Date: September 2025
