Borrower requested a $100,000 loan to refinance a single-family property in Zephyrhills, Florida. The property features 2 beds and 1 bath at 864 sq/ft on a 6,340 sq/ft lot and is currently in the process of completing a remodel. The borrower plans to list the property for sale after the renovation is complete as an exit to this loan.
Collateral:
Type: Refinance
Description:
The borrower has requested a $168,000 loan to refinance a single-family property in Orlando, Florida, owned free and clear. This 950 sq. ft. property features 3 bedrooms, 1 bathroom, and a carport. The capital from this refinance will be used to purchase and rehabilitate another investment property, further expanding the borrower’s portfolio. The borrower plans to exit the loan through a DSCR refinance.
- Loan Amount: $168,000
- Date: October 2024
