Borrower requested a $220,000 loan to refinance a single-family property in Dunedin, Florida. Borrower plans to complete a cosmetic renovation that includes a new roof and rent-ready updates. The property features 2 beds and 2 baths at 1,376 sq/ft. The borrower plans to lease the property for an annual rental after the renovation and refinance as an exit to the loan.
Collateral:
Type: New Construction
Description:
This is a $255,000 new construction loan request for a duplex located in Lake Wales, FL. The proposed duplex will consist of two units, each featuring three bedrooms, two bathrooms, and approximately 1,005 square feet of living space, totaling six bedrooms, four bathrooms, and 2,010 square feet of combined living space. Borrower’s refinancing strategy is designed to manage debt and cash flow based on rental income.
- Loan Amount: $255,000
- Date: June 2025
