Loan at a glance
- Loan Type
- No doc second mortgage
- Shortfall Funded
- $300K
- Structure
- Second mortgage behind existing construction facility
- Inquiry to Settlement
- 6 days
How Settled With Joe arranged a no doc second mortgage to fund a $300K construction shortfall in Gymea in just six days, keeping an active build on track.
The Challenge
A client in Gymea was already partway through a build with an active construction facility in place but ran $300,000 short of the funds needed to complete the project. Drawing additional funds from the existing lender was not an option. The client needed a fast, unconventional solution to avoid the project stalling at the finish line.
The Solution
Settled With Joe arranged a no doc second mortgage over the property, sitting behind the existing construction facility, to provide the $300,000 shortfall funding. The deal was settled in six days.
Need Construction or Development Finance?
Settled With Joe assists borrowers across all stages of the build cycle. We can help you source capital from $200K to $15 million to complete your project, drawing on a lender panel of 90+ bank, non-bank, and private lenders.
