Borrower requested a $136,000 loan to purchase a condo in Homestead, Florida. The property
features 3 beds and 2 baths at 1,060 sq/ft. The borrower plans to lease the property as an annual rental after the renovation and refinance as an exit to the loan.
Collateral:
Type: Refinance
Description:
This is a $100,000 refinance loan request at 50% loan-to-value (LTV), secured by a Lake Worth, Florida condominium unit. The property has two bedrooms, two and a half bathrooms, and approximately 1,500 square feet of living space. Borrower plans to complete the renovation and exit the loan through a conventional property sale.
- Loan Amount: $100,000
- Date: June 2025