Borrower requested a $1,650,000 loan to purchase a property located at Danube Ave, Tampa, FL, on Davis Island. The borrower additionally pledged 2 other free and clear assets to the loan, and intends to build new construction townhomes on the Davis Island property. The borrower plans to sell the new construction townhomes after completion as an exit from the loan.
Collateral:
Type: Refinance
Description:
This is a $100,000 refinance loan request at 50% loan-to-value (LTV), secured by a Lake Worth, Florida condominium unit. The property has two bedrooms, two and a half bathrooms, and approximately 1,500 square feet of living space. Borrower plans to complete the renovation and exit the loan through a conventional property sale.
- Loan Amount: $100,000
- Date: June 2025