Borrower requested a $270,000 loan to purchase a commercial property in Lakeland, Florida. The borrower is purchasing the commercial property for $240,000 while pledging a second SFR property as additional collateral to the loan. The commercial property features 1,600 sq/ft with 1 bathroom sitting on .28 acres. The borrower plans to operate the commercial property and refinance as an exit to the loan.
Collateral:
Type: Fix and Lease
Description:
Borrower requested a $650,000 loan to purchase a single-family property in Tarpon Springs, Florida. The property being purchased features 2 beds and 2 baths at 2,188 sq/ft with a pool. The borrower is cross collateralizing another property in pristine condition, featuring 4 beds and 5 baths in 3,849 sq/ft with a pool. The borrower will be selling the property as an exit from the loan.
- Loan Amount: $650,000
- Date: March 2025