Borrower requested a $175,000 loan to purchase a single-family property in Fort Myers, Florida. The property features 3 beds and 2 baths at 2,033 sq/ft. The property is currently tenant-occupied on an annual lease. The borrower plans to keep the property as a rental and then refinance 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