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: Refinance
Description:
This is a $100,000 refinance loan request at 50% loan-to-value (LTV), secured by a Lake Worth, Florida condominium unit. The property has two bedrooms, two and a half bathrooms, and approximately 1,500 square feet of living space. Borrower plans to complete the renovation and exit the loan through a conventional property sale.
- Loan Amount: $100,000
- Date: June 2025