Borrower requested a $455,000 loan to refinance 3 manufactured mobile home properties in
Lakeland, Florida, and a condo unit in Destin, Florida. The borrower is cashflowing all assets and plans to pay off the loan with other sale proceeds.
Collateral:
Type: Refinance
Description:
This is a $400,000 refinance loan request for a quadplex in Treasure Island, FL, which the borrower owns free and clear. The property consists of four one-bedroom, one-bathroom units, each measuring 527 square feet, for a total living space of 2,108 square feet. Borrower plans to make monthly interest payments using the property’s cash flow and available reserves.
- Loan Amount: $400,000
- Date: March 2025