This is a $550,000 (52% LTV) refinance loan request secured by three Pinellas Park Townhomes, newly built. The three newly constructed townhomes are located at 62nd Way, Pinellas Park. These units are part of an eight-unit development built by the borrower, who also acted as the project’s developer. The anticipated loan payoff will come from the sale proceeds of the two remaining townhomes or the liquidation of other real estate assets.
Collateral:
Type: Refinance
Description:
Borrower requested a $200,000 refinance loan secured by a single-family residence in Tampa, Florida. Built in 1980, the property features 3 bedrooms, 2 bathrooms, and 1,562 square feet of living space situated on a 0.19-acre lot. Upon completion of the renovations, the borrower intends to refinance into a long-term DSCR loan as the exit strategy.
- Loan Amount: $200,000
- Date: August 2026
