Borrower requested a $190,000 loan to purchase a single-family property in Tampa, Florida, pledging an additional free and clear property as collateral for the loan. The borrower paid $150,000 for the property and has a $30,000 construction budget planned. Additionally, the 3308 River Grove property has an estimated value of $220,000. The property at 8901 N 20th St, features 2 beds and 1 bath at 1,178 sq/ft. Borrower plans to sell the property after the renovation as an exit to the loan.
Collateral:
Type: Refinance
Description:
This request is for a $400,000 refinance loan secured by a single-family residence located in the Walden Lake Community in Plant City, Florida. The property features three bedrooms, five bathrooms, and an executive office that can also serve as an additional bedroom. The residence offers 4,444 square feet of living space on a 0.37-acre lot and is situated directly on a private golf course. Borrower exit strategy is to refinance into a DSCR loan after liquidating other investments.
- Loan Amount: $400,000
- Date: October 2025