Borrower requested a 375,000 loan to purchase a single-family property in Largo, Florida. The borrower paid $505,000 for the property and does not have a construction budget planned, as the home is turnkey ready. The property features 3 beds and 2 baths at 1,564 sq/ft. Borrower will be leasing the property as a short term rental and will refinance as an exit to the loan in an estimated 60 days.
Collateral:
Type: Fix and Lease
Description:
Borrower requested a $150,000 loan to purchase a manufactured property in Tampa, Florida. The manufactured home was built in 2017 and features 3 beds and 2 baths at 1,512 sq/ft sitting on a 1.24 acre lot. Borrower intends to refinance the loan.
- Loan Amount: $150,000
- Term: 1 Year
- Date: March 2023
