Borrower requested a $90,000 loan to refinance a manufactured mobile home in St James City, Florida. The property features 2 beds and 2 baths at 1,134 sq/ft. The property is currently in the middle of being remodeled. The borrower will use the cash out to complete the rehab of this property and lease for an annual rental and refinance as an exit to the loan.
Collateral:
Type: New Construction
Description:
This is a $380,000 new construction loan request for a single-family property located in St. Augustine, FL. The home will feature 3 bedrooms, 2.5 bathrooms, and an office that can serve as an additional bedroom, with a total of 2,256 square feet of living space. The borrower will refinance the subject property if the builds and the sales take longer than anticipated.
- Loan Amount: $380,000
- Date: December 2024
