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:
Borrower requested a $85,000 loan to refinance a single-family fix and flip property in Sanford, Florida. The property will feature 3 bedrooms, 2 bathrooms, and 1,242 square feet of living space upon completion. The home sits on a desirable double lot totaling 0.48 acres and overlooks a pond. The borrower plans to list the property for sale after the renovation as an exit to the loan.
- Loan Amount: $85000
- Date: January 2025