Borrower requested a $285,000 loan to purchase a single-family property in Tampa, Florida. The borrower is paying $489,00 for the property. The property features 2 beds and 1.5 baths at 1,588 sq/ft on a 1.2 acre lot. Borrower plans to lease the property for an annual rental and refinance into a DSCR loan as an exit to the loan.
Collateral:
Type: Refinance
Description:
The borrower has requested an $850,000 loan for a multifamily quadplex located in Tampa, Florida. The property consists of two detached buildings, offering three 1-bedroom, 1-bath units and one 2-bedroom, 1-bath unit totaling 1,596 sq. ft. One building features unregistered living space due to the conversion of a 2-car garage into a laundry room and additional living area. The borrower plans to refinance as an exit from the loan.
- Loan Amount: $850,000
- Date: October 2024