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: Refinance
Description:
The borrower has requested a $168,000 loan to refinance a single-family property in Orlando, Florida, owned free and clear. This 950 sq. ft. property features 3 bedrooms, 1 bathroom, and a carport. The capital from this refinance will be used to purchase and rehabilitate another investment property, further expanding the borrower’s portfolio. The borrower plans to exit the loan through a DSCR refinance.
- Loan Amount: $168,000
- Date: October 2024
