Borrower requested a $92,000 loan to purchase a condo in Saint Petersburg, Florida. The property features a 1 bedroom, 1 bathroom at 615 sq/ft with an assigned parking spot. The borrower plans on rehabbing and leasing the property as an annual rental and refinancing as an exit to the loan.
Collateral:
Type: Refinance
Description:
This is a $60,000 refinance loan request secured by a free-and-clear single-family home located in Lehigh Acres, Florida. The subject property is a 3-bedroom, 1-bathroom residence offering 920 square feet of living space. The primary exit strategy for the loan is repayment through cash flow from business and secondary option is to refinance into a DSCR loan if additional time is needed.
- Loan Amount: $60,000
- Date: October 2025
