Borrower requested a $108,000 loan to purchase a duplex property in Auburndale, Florida. The borrower paid $145,000 for the property and has a $21,000 construction budget planned. The property features 2 units each with 1 bed and 1 bath at 540 sq/ft. Borrower plans to complete the renovation and then sell the property once completed.
Collateral:
Type: Refinance
Description:
This is a $60,000 refinance loan request secured by a free-and-clear single-family home located in Lehigh Acres, Florida. The subject property is a 3-bedroom, 1-bathroom residence offering 920 square feet of living space. The primary exit strategy for the loan is repayment through cash flow from business and secondary option is to refinance into a DSCR loan if additional time is needed.
- Loan Amount: $60,000
- Date: October 2025
