The borrower requested a $525,000 loan to purchase a single-family property in Palm Harbor, Florida. The property features 4 beds and 3 baths at 2,969 sq/ft. The borrower plans to lease the property as a short-term rental and refinance as an exit to 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