The borrower requested a $40,000 loan to refinance a condo in Saint Petersburg, Florida. The property features 2 beds and 2 baths at 1,005 sq/ft. The borrower plans to make repairs to the unit and then sell as an exit to 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
