Borrower requested a $300,000 loan to refinance a condominium unit in Clearwater, Beach, Florida. The property features 2 beds and 2 baths at 1,363 sq/ft. The borrower plans to then lease the property as a rental and refinance as an exit to the loan.
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