The borrower has requested a $305,000 loan to refinance a single-family property located in St. Petersburg, Florida. The property consists of 4 bedrooms and 2 bathrooms, totaling 1,635 square feet. It recently underwent a complete interior remodel. The borrower intends to refinance the property as an exit strategy for the loan.
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