Zero Down 100% Rehab Loan Guidelines
- Rehab
loans for investors are for 1 - 4 family properties that are
non-owner occupied.
- Conventional
or commercial loans through our mortgage broker subsidiary and
affiliates can be made on all types of property.
First lien
mortgage on real property with hazzard insurance, title insurance,
survey and appraisal by our designated appraisers.
Generally, our loans are anywhere from 3-6 months long. The first 3 months of the loan are used for renovating the property. This allows for the last 3 months to be used for selling or refinancing the property. Depending on the borrower's exit strategy, we can either:
- Refinance into a 15-30 yr fixed rate mortgage at current rates.
- List the house with one of our real estate agents.
- We will lend up to 65% of the “after repaired value” of the property.
- We charge anywhere from 5 to 8 points. First time borrowers will be charged 7 or 8 points depending on credit and experience. Each loan after that, the borrower will be charged 1 point less than they were previously charged with 5 points being the lowest.
- The borrower will make interest only payments each month for the life of the loan. During the first 3 months (rehab period), the interest rate is 11.99%. Beginning with the 4th month, the interest rate jumps to 15.99%.
- As repairs are made to the property, we will make progress payments from the escrow account to reimburse the borrower for work performed.
We are a full service real estate lender and
practitioner, committed to making you a successful real estate
investor.
We are determined to help you build your
reputation as a credible and reliable investor while doing business
with you over the long term.
Our programs make it easy for you to become
a favored customer. Once you have been approved the first time,
you do not need to reapply to be approved for subsequent loans.
You can review our standard loan application and loan documentation.
You can earn referral fees, commissions and discounts for
introducing and referring other investors to us.
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