Borrower requested a $725,000 loan to purchase a single-family property in Fort Myers, Florida that sits on 7 cores. Additionally, the borrower is collateralizing a free and clear duplex also in Fort Myers. The single family, 7 Gore property was purchased for $700,000 and the borrower has a $43,000 construction budget planned. The property features 3 beds and 3 baths at 1,910 sq/ft. The 2nd place of collateral was purchased in 2014 and has since been fully remodeled, and is now tenant occupied ($330,000 estimated value).
Collateral:
Type: Refinance
Description:
This is a $200,000 refinance loan request for a single-family property located in Kissimmee, FL. The asset is a 3-bedroom, 2-bathroom home with a 1-car garage spanning 1,485 sq. ft. The borrower intends to exit the loan through a DSCR refinance.
- Loan Amount: $200,000
- Date: October 2024