The borrower requested a $1.2M loan to refinance a single-family property and a vacant piece of land in North Miami, Florida. The single-family property features 7 bedrooms, 4 bathrooms, and 4,534 square feet of living space. The borrower is planning to renovate the SFR and then refinance as an exit to the loan.
Collateral:
Type: Refinance
Description:
This is a $200,000 TRID-compliant second mortgage loan request secured by a single-family residence located in Belleair, Florida. The home is a four-bedroom, three-bathroom property with a pool and 2,461 square feet of living space, a two-car garage, and sits on a 0.36-acre lot. Borrower intended exit strategy is to refinance the property and consolidate both the first and second mortgages.
- Loan Amount: $200,000
- Date: July 2025