This loan is for $600,000 to acquire two lots in Largo, Florida. The borrower is pledging two parcels of land totaling 0.59 acres, with a combined purchase price of over $ 1 M+. The borrower plans to build 2 new construction homes and then sell them for profit as an exit strategy for the loan.
Collateral:
Type: Refinance
Description:
Borrower requested a $200,000 refinance loan secured by a single-family residence in Tampa, Florida. Built in 1980, the property features 3 bedrooms, 2 bathrooms, and 1,562 square feet of living space situated on a 0.19-acre lot. Upon completion of the renovations, the borrower intends to refinance into a long-term DSCR loan as the exit strategy.
- Loan Amount: $200,000
- Date: August 2026
