The borrower requested a $85,000 loan to purchase a single-family property in Pensacola, Florida. The property features 3 beds and 2 baths at 1,417 sq/ft and is in need of a full renovation. The borrower plans to list the property for sale after the renovation and sell it as an exit to the loan.
Collateral:
Type: New Construction
Description:
Borrower requested a $165,000 new construction refinance for a single-family home located in Lake Wales, FL. The property is designed as a three-bedroom, two-bathroom home with a two-car garage, totaling 1,333 square feet. The borrower’s exit strategy is to refinance into a DSCR loan once the property reaches certificate of occupancy.
- Loan Amount: $165,000
- Date: May 2025