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 requested a $85,000 loan to refinance a single-family fix and flip property in Sanford, Florida. The property will feature 3 bedrooms, 2 bathrooms, and 1,242 square feet of living space upon completion. The home sits on a desirable double lot totaling 0.48 acres and overlooks a pond. The borrower plans to list the property for sale after the renovation as an exit to the loan.
- Loan Amount: $85000
- Date: January 2025