Gymea Construction Shortfall — No Doc Second Mortgage, Settled in 6 Days
Gymea, NSW
Residential Construction.
$300K Settled
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 Funding Group 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.
Loan at a Glance
| Detail | Info |
|---|---|
| Loan Type | No doc second mortgage |
| Shortfall Funded | $300K |
| Structure | Second mortgage behind existing construction facility |
| Inquiry to Settlement | 6 days |
Need Construction or Development Finance?
Settled Funding Group 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.
