SECC Closes a $200,000 Permanent Refinance Cash-Out of a Vacant 3 Family Property

SECC funded this $200,000 loan which included over $150,000 of unrestricted cash-out. The vacant 3 family property was purchased at the end of 2014 and the borrower undertook an extensive rehab. Funds were needed to complete property improvements, secure tenants and invest in additional real estate. This was a no tax return, no DSCR or DTI loan, which SECC closed in 28 days.