Borrower requested a $25,000 loan to purchase a manufactured mobile home property in Port Richey, FL. The property is in a good condition, requiring a $10,000 cosmetic rehab, which the borrower will complete using personal capital and self performing a majority of the work. The collateral purchase price is $38,900, and the property rents at a conservative estimate of $950/month once renovated.
Collateral:
Type: New Construction
Description:
This is a $200,000 new construction loan request for a single-family home located in Fort Myers, FL. Upon completion, the property will comprise two separate structures: the main residence, which features seven bedrooms and six bathrooms across 1,837 heated square feet, and a 550-square-foot studio suite, totaling 2,387 square feet of heated living area. Borrower exit strategy for this particular property is a long-term hold, with plans to refinance using a debt-service coverage ratio (DSCR) loan.
- Loan Amount: $200,000
- Date: June 2025