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Whether you are a novice or an experienced rehabber we have a loan program to fit your business goals. We understand how you work, and what you need to grow your business. Funds available when you need them. Be able to buy the properties you want when you find them not when you have money. Use a loan designed to make the project quick, easy, and profitable.
Please read the whole page, including the FAQ's. When you are ready to take the next step, complete the form at the bottom of the page.
How does this sound?
- No payments for 6 months
- 85-100% of project costs
- Up to 75% of the After-Repaired Value
- Two week closings
- No pre-payment penalty
- Fast rehab funds
- Proof of funds letters for your offers
- Exceptional customer service
Property types, residential 1-4 family, non-owner occupied properties, Small apartment and condo conversions on a case-by-case basis. Investment properties only, no owner occupied properties.
Lien Position - First Mortgage only.
Pricing options - There are four options. Depending on percentage of the project you finance will set the number of points you pay on each transaction. The rate is the same for all four options (only the points change). The pricing will be in line with hard money lending.
Personal guarantee required, may close in the name on business entity.
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Loan Programs |
Option 1 |
Option 2 |
Option 3 |
Option 4 |
| Advance % of total costs |
85% |
90% |
95% |
100% |
| Loan % of total costs |
100% |
100% |
100% |
100% |
| LTV based on after repaired value |
75% |
75% |
70% |
70% |
| Minimum credit score |
630 |
630 |
660 |
690 |
Program, terms, requirements, subject to change without notice.
Currently available in the following states:
| Colorado |
Connecticut |
California |
| Delaware |
Florida |
Georgia |
| Illinois |
Indiana |
Kentucky |
| Louisiana |
Maine |
Maryland |
| Massachusetts |
Michigan |
Minnesota |
| Mississippi |
Missouri |
New Hampshire |
| New Jersey |
New Mexico |
New York |
| North Carolina |
Ohio |
Oklahoma |
| Pennsylvania |
Rhode Island |
South Carolina |
| Tennessee |
Texas |
Utah |
| Virginia |
Washington |
Washington D.C. |
| Wisconsin |
More States |
Coming Soon |
FAQ's:
Is there a minimum credit score required? Yes, you must have a credit score of 630 for the 85% or 90% program. If you want to be able to finance 95 or 100% you must have a 690 credit score. If this is a partnership, this is the lowest mid-score of all the partners.
Is there a reserve/asset requirement? Yes, you must have $20,000 per $100,000 you would like to borrow. This may be in cash, stocks, bonds or other similar investments. It may be in AVAILABLE home equity or unsecured business line of credit funds. It may NOT be in funds you have in 401k or other retirement accounts.
IF YOU DO NOT HAVE THE MINIMUM CREDIT SCORE OR ASSETS PLEASE DO NOT CALL AND ASK IF WE CAN WORK AROUND THAT.
Is this loan "full doc" or "stated"? You will need to provide traditional income and asset documentation as well as documents which outline your experience (if you have any) in real estate investment, such as HUD-1's, or leases. Income documents may include tax returns, personal and business, W2's, pay-stubs. Asset documents may include recent statements for the last quarter on deposited funds, and recent statement showing available unused funds on a HELOC. You CAN NOT go "stated"
How long does the process take? A lot of that answer depends on you and how quickly you provide information that is requested. A complete application can be approved and able to close in 2-3 weeks. We understand that often how quick you can close will mean getting the property or not.
How long is the term of the loan? Loans are for up to 1 year. At that time you must refinance the property if you are planning on holding it, or have sold it if that is your plan. This is a loan to buy and fix up property, not one you want to hold property with.
Is there a minimum loan amount? There is not a minimum loan amount, just a minimum fee of the points. If the cost to purchase and renovate properties in your area are under $62,500, this might be an issue we should talk about. Otherwise there is no minimum.
Do you require experience? No, beginners are welcome and invited. If you do not have documentable profitable experience you may be required to set aside a contingency reserve in your repair budget.
If you have questions which are not answered on this page, please email us at I HAVE QUESTIONS ABOUT REHAB LOANS. When you are ready to move forward, please complete the form below to start the process. You do not need a property under contract, but you do need to be a serious investor.
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