Borrower requested a $337,000 loan to purchase a commercial property in Gulfport, Florida. The property is currently leased and operated as a K-5 school, owned by a local church. Borrower plans to convert the property into a wellness center once the lease expires, increasing cashflow and then refinancing as an exit to the loan.
Collateral:
Type: Refinance
Description:
This is a $150,000 refinance loan request secured by a single-family residence located in Tampa, Florida. The subject property includes three bedrooms, two bathrooms, and approximately 1,200 square feet of living space. The borrower plans to refinance into a DSCR loan as an exit from the loan.
- Loan Amount: $150,000
- Date: May 2025
