This loan request is for $160,000, representing a 56% Loan-to-Value (LTV), to fund the purchase and renovation of a manufactured mobile home in Riverview, Florida. The subject property features 2 bedrooms and 2 bathrooms, encompassing 1,680 square feet of living space. This secondary property has two bedrooms, one bathroom, and 650 square feet of living space. The borrower will refinance as an exit to the loan.
Collateral:
Type: Fix and Lease
Description:
Borrower requested a $650,000 loan to purchase a single-family property in Tarpon Springs, Florida. The property being purchased features 2 beds and 2 baths at 2,188 sq/ft with a pool. The borrower is cross collateralizing another property in pristine condition, featuring 4 beds and 5 baths in 3,849 sq/ft with a pool. The borrower will be selling the property as an exit from the loan.
- Loan Amount: $650,000
- Date: March 2025