Borrower requested a $145,000 loan to purchase a townhouse in Tampa FL. Borrower paid $178,000 for the property and has a $35,000 construction budget planned, primarily cosmetic in which DKC will provide a draw schedule. The property features 3 beds, 2 baths at 1,211 Sq Ft. The borrower plans to refinance the property for a long term rental as an exit to the loan.
Collateral:
Type: Fix and Lease
Description:
This financing opportunity involves a $2.5 million lending request structured as two interest-only mortgages with a 2-year term and 12% fixed interest. The transaction includes a commercial acquisition loan supported by multiple commercial real estate assets, along with a separate residential refinance, resulting in a conservative overall loan-to-value ratio backed by substantial collateral. The primary exit strategy is to refinance the commercial property.
- Loan Amount: $2,500,000
- Date: July 2026
