Borrower requested a $135,000 loan to purchase a single-family property in Tampa,
Florida. The property features 4 beds and 2 baths at 1,138 sq/ft on a 0.25-acre lot. The borrower plans to renovate the property and then 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