Borrower requested a $100,000 loan to purchase a manufactured home property with .37 acres, 2 blocks off of a lake in Land O Lakes, Florida. The borrower paid $197,500 for the property and has a $75,000 construction budget planned. The borrower plans to renovate the existing manufactured home, install another manufactured home on the property and rent both units out as short-term vacation rentals.
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
