Borrower requested a $135,000 loan to refinance 2 manufactured mobile home parcels in
Land O’Lakes, Florida. The property at Henry Dr was purchased in 2018 and features 2 beds and 2 baths at 1,140 sq/ft, and the property located on Dove Rd was purchased in 2017 and features 2 beds and 1.5 baths at 946 sq/ft. Both properties are leased as annual rentals.
Collateral:
Type: New Construction
Description:
This is a $260,000 new construction loan request on a duplex located in Port Charlotte, FL, with an initial disbursement of $60,000 at closing. Upon completion, the property will consist of two units, each featuring 3 bedrooms, 2 bathrooms, 1,247 square feet of living space, and a 1-car garage. The borrower intends to refinance the property as the primary exit strategy.
- Loan Amount: $260,000
- Date: August 2025
