The borrower requested a $150,000 loan to refinance a single-family property in Wesley Chapel, Florida. The property features 4 beds and 2 baths at 2,070 sq/ft and is currently leased for $2,500/month. The borrower plans to keep leasing this property for an annual rental and refinance into a DSCR program as an exit from the loan.
Collateral:
Type: New Construction
Description:
This loan totals $1,590,000, with $260,000 disbursed at closing, secured by a double-lot land asset located in Safety Harbor, Florida. The site consists of approximately 0.26 acres, and the borrower intends to subdivide the parcel and construct two new single-family homes. Each residence is planned as a two-story property featuring four bedrooms, four bathrooms, a two-car garage, and approximately 3,000 square feet of living space.
- Loan Amount: $1,590,000
- Date: February 2026
