Borrower requested a $780,000 loan to purchase a multi-family property (5 units) in St. Pete Beach, Florida. The property features 5- one bedroom and one-bath units with a total of 2,526 sq/ft (2 structures). The borrower plans to list the property for nightly rentals and refinance as an exit to the loan.
Collateral:
Type: Refinance
Description:
This request is for a $110,000 refinance loan secured by a single-family residence located in Palmetto, Florida. The subject property was built in 2001 and consists of a 3-bedroom, 2-bathroom home with 1,060 square feet of living area and a one-car garage. Borrower will refinance as the loan’s exit strategy.
- Loan Amount: $110,000
- Date: January 2026
