Borrower requested a $140,000 loan to refinance a single family property in Tampa, Fl. The borrower paid $220,000 for the property in June 2022 and has a $140,000 total construction budget planned. The property features 2 beds and 1 bath at a total 896 sq/ft. Borrower plans to rehab the property and then lease the property as a rental after the renovation and refinance as an exit to the loan.
Collateral:
Type: Refinance
Description:
This request is for a $110,000 refinance loan secured by a single-family residence located in Palmetto, Florida. The subject property was built in 2001 and consists of a 3-bedroom, 2-bathroom home with 1,060 square feet of living area and a one-car garage. Borrower will refinance as the loan’s exit strategy.
- Loan Amount: $110,000
- Date: January 2026
