Borrower requested a $186,000 loan to refinance a single-family property in Tarpon Springs, Florida. The property features 3 beds and 2 baths at 1,332 sq/ft. Borrower plans to lease the property for an annual rental after the upgrades and refinance into a DSCR program as an exit to the loan.
Collateral:
Type: New Construction
Description:
Borrower requested a $425,000 loan to begin construction on a single-family property in Lakeland, Florida. The property will feature 4 beds and 3 baths at 3,727 sq/ft. The target sale price for the completed property is estimated $1.1 million.
- Loan Amount: $425,000
- Date: September 2024