Borrower requested a $140,000 loan to refinance a single-family property in New Port Richey, Florida. Estimated value is around $200,000 with an ARV of $250,000 with a new roof, HVAC and minor repairs. Borrower is using the proceeds to complete a new construction project in the Hudson, Fl. The property features 2 beds and 2 baths at 1,074 sq/ft. Borrower plans to sell the new construction properly and use those proceeds to pay off existing loan.
Collateral:
Type: Refinance
Description:
Borrower requested a $150,000 loan to refinance a single-family property in Odessa, Florida. The property features 4 beds and 4 baths at 4,285 sq/ft. Borrower plans to use the proceeds of this loan to pay off debt and plans to list the property for sale as an exit to this loan.
- Loan Amount: $150,000
- Date: March 2024