Borrower requested a $130,000 loan to refinance a single-family property in Tallahasse, Florida. The property features 11 beds and 2 baths at 2,505 sq/ft sitting on a 13,939 sq/ft lot. The borrower plans to lease the property as an annual rental after the renovation and refinance as an exit to the loan.
Collateral:
Type: New Construction
Description:
This is a $200,000 new construction loan request for a single-family home located in Fort Myers, FL. Upon completion, the property will comprise two separate structures: the main residence, which features seven bedrooms and six bathrooms across 1,837 heated square feet, and a 550-square-foot studio suite, totaling 2,387 square feet of heated living area. Borrower exit strategy for this particular property is a long-term hold, with plans to refinance using a debt-service coverage ratio (DSCR) loan.
- Loan Amount: $200,000
- Date: June 2025