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SECC Recent Closing
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Recent Funding

$136,300 NOO SFR Purchase + Rehab, 80% Purchase LTV

SECC's NOO Residential Rehab Program 
This $136,300 rehab and purchase loan of a vacant, non-owner occupied SFR, was funded in 21 days without any credit report, tax returns, 1003, personal financial statement or property financials (we never require any of these items for this program). SECC provided a 12 month, interest only bridge loan equaling 80% of the purchase price plus 100% of the $31,300 rehab budget.  Final terms were 12.5%, 3.99 origination points, no prepayment penalty, interest guarantee or exit fee. The population of Beaufort, SC is 12,120 people and is 34.8 miles to Savannah which is the closest city with over 100,000 people. 

Closing Highlights

NOO SFR

South Carolina
  • 80% purchase LTV
  • 12.5%, i/o, 3.99 points 
  • No prepay penalty
  • No credit score required
  • 100% of rehab funded
  • $1,363 broker rebate
Apply Online

Program Highlights

Program Highlights

Available in 18 States** 
  • Loans from $100K to $1M
  • Rates from 8%, interest only
  • 100% rehab funding available*
  • No investment history needed
  • No home ownership required
  • 1% broker rebate available  
Request a Rate Sheet
*The maximum purchase LTV cannot exceed 80% of the "as is" value or 75% of the "as renovated value" (the maximum ARV LTV for a purchase or refinance is 75%). The available LTV may be reduced due to borrower experience level, geographic location of the subject property and other factors. 

**This program is currently available in: CA, CO, CT, FL, GA, IL, MD, MI, MO, NC, OH, PA, SC, TN, TX, VA, WA & WV.
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About SECC

Headquartered in Los Angeles with offices nationwide, SECC, as a direct lender provides non-conforming real estate loans up to $5,000,000+ nationwide; and, provides collateralized and uncollateralized business and real estate loans in participation with third-party lenders. Additionally, SECC offers same-day term sheets, excellent service and prompt responses, is broker-friendly and pays rebates to approved partners. For additional information visit www.southendcapital.com or call (888) 268-7778. SECC is licensed under California Finance Lenders License # 603 L334.
 
Copyright © 2016 South End Capital a division of Stearns Bank, N.A., All rights reserved.


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