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: 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