Rehab Loans

The Catch-22 Situation
The purchase of a property that needs repair is often a catch-22 situation, because banks normally will not lend the money to buy the property until the repairs are complete, and the repairs can't be done until the property has been purchased.

Our Rehab Loan Program
A rehab loan is used to acquire an existing home or commercial property for the purpose of repairing deficiencies and remodeling.  Loans are available for basic remodeling/rehab of your own property or an investment property.

Doing the math is simple.  You can borrow up to 75% of the future/finished value of the property!  Take the cost to purchase the property and add the cost of renovation/repairs.  This total is called the "cost of acquisition and rehab".  As long as the finished property would appraise for 25-30% more than the total cost of the project, the property will most likely qualify.

A rehab loan offers many advantages.  The scope of the project is limited only by your imagination and the finished value of the property. We have had many clients with rewarding, successful projects who created equity and a wonderful place to live by using our rehab loan products. 

 

 

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