Borrower requested a $750,000 loan to purchase a single-family property in Pace, Florida. The borrower paid $305,000 for the property and is intending on leasing the property ASAP. Additionally, the borrower is pledging three condos in the Orlando area, currently operating as short-term rentals, all owned free and clear. The SFR property features 4 beds and 2 baths at 2003 sq/ft. The borrower is using the loan surplus to fund the purchase of 175 acres in Alabama for development. The borrower plans to refinance as an exit to the loan.
Collateral:
Type: Refinance
Description:
This is a $155,000 refinance loan request, secured by a single-family residence located in Jacksonville, Florida. The subject property is a 3-bedroom, 2-bathroom home with 1,545 square feet of living area, a 1-car garage and an inground pool. The borrower will list the property for sale as the exit strategy to repay the loan in full.
- Loan Amount: $155,000
- Date: September 2025
