Borrower requested a 375,000 loan to purchase a single-family property in Largo, Florida. The borrower paid $505,000 for the property and does not have a construction budget planned, as the home is turnkey ready. The property features 3 beds and 2 baths at 1,564 sq/ft. Borrower will be leasing the property as a short term rental and will refinance as an exit to the loan in an estimated 60 days.
Collateral:
Type: Fix and Lease
Description:
This financing opportunity involves a $2.5 million lending request structured as two interest-only mortgages with a 2-year term and 12% fixed interest. The transaction includes a commercial acquisition loan supported by multiple commercial real estate assets, along with a separate residential refinance, resulting in a conservative overall loan-to-value ratio backed by substantial collateral. The primary exit strategy is to refinance the commercial property.
- Loan Amount: $2,500,000
- Date: July 2026
