Borrower requested a $65,000 cash out refinance loan, pledging a recently purchased and renovated manufactured mobile home property in Lakeland, Florida as collateral. The property was purchased in September 2021 for $117,400, and is currently in the middle of a renovation in which the borrower has spent $40,000 of a $55,000 total rehab budget since the purchase.
Collateral:
Type: Refinance
Description:
This is a $150,000 refinance loan request secured by a single-family residence located in Tampa, Florida. The subject property includes three bedrooms, two bathrooms, and approximately 1,200 square feet of living space. The borrower plans to refinance into a DSCR loan as an exit from the loan.
- Loan Amount: $150,000
- Date: May 2025
