Borrower requested a $96,000 loan to purchase a 2.5 acre property that holds a double-wide manufactured home in Dade City, Florida. The borrower paid $160,000 for the property and has a $15,000 cosmetic renovation planned as the property is currently move in ready, needing only minor updates. The manufactured home has 3 bedrooms and 2 baths at 1,440 sq/ft. Borrower plans to lease the property to their construction workers and sell for a profit in 1-2 years.
Collateral:
Type: Refinance
Description:
Borrower requested a $150,000 loan to refinance a single-family property in Odessa, Florida. The property features 4 beds and 4 baths at 4,285 sq/ft. Borrower plans to use the proceeds of this loan to pay off debt and plans to list the property for sale as an exit to this loan.
- Loan Amount: $150,000
- Date: March 2024