The borrower requested a $238,000 loan for a single-family residence in Tampa, Florida. The property features a 2 bedroom, 1.5-bathroom home totalling 1,800 square feet with a one-car garage built in 1921. The borrowers are financially positioned to refinance the property if it does not sell at their projected price point of $600,000 or higher.
Collateral:
Type: Refinance
Description:
This is a $400,000 refinance loan request for a quadplex in Treasure Island, FL, which the borrower owns free and clear. The property consists of four one-bedroom, one-bathroom units, each measuring 527 square feet, for a total living space of 2,108 square feet. Borrower plans to make monthly interest payments using the property’s cash flow and available reserves.
- Loan Amount: $400,000
- Date: March 2025