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 $60,000 refinance loan request secured by a free-and-clear single-family home located in Lehigh Acres, Florida. The subject property is a 3-bedroom, 1-bathroom residence offering 920 square feet of living space. The primary exit strategy for the loan is repayment through cash flow from business and secondary option is to refinance into a DSCR loan if additional time is needed.
- Loan Amount: $60,000
- Date: October 2025
