Borrower requested a $154,000 loan to purchase a single family property in New Port Richey, Florida. The borrower is paid $205,000 for the property and has o $35,000 construction budget planned which will be paid out of pocket and includes primary cosmetic updates. The property features 3 beds and 1.5 baths at 1,511 sq/ft. The estimated ARV (after repair value) is between $275,000- $285,000.
Collateral:
Type: Refinance
Description:
Borrower requested a $200,000 refinance loan secured by a single-family residence in Tampa, Florida. Built in 1980, the property features 3 bedrooms, 2 bathrooms, and 1,562 square feet of living space situated on a 0.19-acre lot. Upon completion of the renovations, the borrower intends to refinance into a long-term DSCR loan as the exit strategy.
- Loan Amount: $200,000
- Date: August 2026
