DEAL HIGHLIGHTS

Loan Amount: $640,000
LTV: 65% combined LTV
Loan Type: Second-lien cash out refinance
Property Type: Single-family property
Location: Newport Beach, CA

ABOUT THIS DEAL

SDC Capital recently funded a $640,000 second-lien cash-out refinance at 65% combined loan-to-value (CLTV) on a single-family rental property in Newport Beach, California.

The loan was made to a repeat borrower seeking funds to complete the renovation of a single-family home in Los Angeles. To best meet the borrower’s needs, SDC structured the loan as a credit line, charging interest only as funds are drawn—a flexible solution since the borrower did not require all proceeds at closing.

To simplify the process and avoid the complexity of securing a property under construction, the loan was secured against a stabilized rental property in Newport Beach, making the transaction both efficient and cost-effective for the borrower.