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:
Borrower requested a $155,000 loan to refinance a single-family property in Tampa, Florida. The property features 2 beds and 1 bath at 1,108 sq/ft, and is tenant occupied. The borrower is using proceeds to complete a build at a different location and will sell the other investment property to exit the loan.
- Loan Amount: $155,000
- Date: July 2024
