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: Fix and Lease
Description:
Borrower requested a $650,000 loan to purchase a single-family property in Tarpon Springs, Florida. The property being purchased features 2 beds and 2 baths at 2,188 sq/ft with a pool. The borrower is cross collateralizing another property in pristine condition, featuring 4 beds and 5 baths in 3,849 sq/ft with a pool. The borrower will be selling the property as an exit from the loan.
- Loan Amount: $650,000
- Date: March 2025