Borrower requested a $110,000 loan to refinance a single-family property in Frost Proof, Florida. The property features 3 beds and 1 bath at 1,153 sq/ft on a 6,612 sq/ft lot. The borrower plans to refinance or pay off this loan with the proceeds of a new flip project.
Collateral:
Type: Refinance
Description:
Borrower is secured by four properties: a luxury condominium in Miami, FL; a single-family home in Roswell, GA; and two properties in Greenwood, SC—a commercial building and a single-family home. The borrower intends to refinance the loan using a DSCR (Debt Service Coverage Ratio) product.
- Loan Amount: $1,050,000
- Date: November 2024