Borrower requested a $25,000 loan to purchase a manufactured mobile home property in Port Richey, FL. The property is in a good condition, requiring a $10,000 cosmetic rehab, which the borrower will complete using personal capital and self performing a majority of the work. The collateral purchase price is $38,900, and the property rents at a conservative estimate of $950/month once renovated.
Collateral:
Type: Refinance
Description:
This is a $70,000 refinance loan request, secured by a single-family residence located in Panama City, Florida. The subject property was built in 1952 and consists of a 4-bedroom, 3-bathroom home with a one-car garage, totaling 2,416 square feet, along with an oversized detached garage, situated on one acre of land. Borrower exit strategy is to either retain the property as employee rental or sell the property.
- Loan Amount: $70,000
- Date: December 2025
