Borrower requested a $280,000 loan to purchase a single-family property in Tampa, Florida, additionally pledging a free and clear property as collateral for the loan. The property features 3 beds and 1 bath at 864 sq/ft sitting on a 0.23 acre lot. Borrower plans to sell the property as an exit to 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