Borrower requested a $55,000 loan to refinance a single-family property in Tampa, Florida. The property was purchased in 2000 and features 2 beds and 2 baths at 1,314 sq/ft. The borrower plans to perform minor updates to the property and is currently leasing the property for $2,500 a month, refinancing as an exit to the loan.
Collateral:
Type: Refinance
Description:
The borrower has requested an $850,000 loan for a multifamily quadplex located in Tampa, Florida. The property consists of two detached buildings, offering three 1-bedroom, 1-bath units and one 2-bedroom, 1-bath unit totaling 1,596 sq. ft. One building features unregistered living space due to the conversion of a 2-car garage into a laundry room and additional living area. The borrower plans to refinance as an exit from the loan.
- Loan Amount: $850,000
- Date: October 2024