The borrower requested a $150,000 loan to refinance a single-family property in Wesley Chapel, Florida. The property features 4 beds and 2 baths at 2,070 sq/ft and is currently leased for $2,500/month. The borrower plans to keep leasing this property for an annual rental and refinance into a DSCR program as an exit from the loan.
Collateral:
Type: Refinance
Description:
Borrower is secured by four properties: a luxury condominium in Miami, FL; a single-family home in Roswell, GA; and two properties in Greenwood, SC—a commercial building and a single-family home. The borrower intends to refinance the loan using a DSCR (Debt Service Coverage Ratio) product.
- Loan Amount: $1,050,000
- Date: November 2024