The borrower requested a $5,000,000 loan to refinance a Condo property in Miami, Florida as well as pledging 6 other properties as collateral to the loan. The condo property is 6 beds and 9.5 baths at 11,661 sq/ft which also includes a 4 car garage and views of the ocean. The borrower plans to refinance as an exit to the loan
Collateral:
Type: New Construction
Description:
Borrower requested a $165,000 new construction refinance for a single-family home located in Lake Wales, FL. The property is designed as a three-bedroom, two-bathroom home with a two-car garage, totaling 1,333 square feet. The borrower’s exit strategy is to refinance into a DSCR loan once the property reaches certificate of occupancy.
- Loan Amount: $165,000
- Date: May 2025