Borrower requested a $35,000 loan to refinance a single-family property in Pensacola, Florida. The borrower purchased the lot in 2022 and has since constructed a single-family residence, currently in the drywall stage. The property features 4 beds and 2.5 baths at 2,515 sq/ft. The borrower plans to refinance the property 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