Borrower requested a $140,000 loan to refinance a single-family property in New Port Richey, Florida. Estimated value is around $200,000 with an ARV of $250,000 with a new roof, HVAC and minor repairs. Borrower is using the proceeds to complete a new construction project in the Hudson, Fl. The property features 2 beds and 2 baths at 1,074 sq/ft. Borrower plans to sell the new construction properly and use those proceeds to pay off existing loan.
Collateral:
Type: Refinance
Description:
This request is for a $400,000 refinance loan secured by a single-family residence located in the Walden Lake Community in Plant City, Florida. The property features three bedrooms, five bathrooms, and an executive office that can also serve as an additional bedroom. The residence offers 4,444 square feet of living space on a 0.37-acre lot and is situated directly on a private golf course. Borrower exit strategy is to refinance into a DSCR loan after liquidating other investments.
- Loan Amount: $400,000
- Date: October 2025