The borrower requested a $175,000 loan to refinance two single-family properties in Lake City, Florida. The 1st property features 3 bedrooms, 1.5 bathrooms, and 1,346 sq/ft, while the 2nd property offers 3 bedrooms, 1 bathroom, and 1,152 sq/ft on a 2-acre lot. The borrower intends to refinance as an exit strategy for the loan.
Collateral:
Type: Fix and Lease
Description:
This financing opportunity involves a $2.5 million lending request structured as two interest-only mortgages with a 2-year term and 12% fixed interest. The transaction includes a commercial acquisition loan supported by multiple commercial real estate assets, along with a separate residential refinance, resulting in a conservative overall loan-to-value ratio backed by substantial collateral. The primary exit strategy is to refinance the commercial property.
- Loan Amount: $2,500,000
- Date: July 2026
