Rehab loans are tailored for the real estate investor who wants to make repairs before selling the property.
Using the property as collateral, funds are available for short-term residential renovation projects that most traditional banks and credit unions won’t approve. Authorized monies will be held in escrow and released in draws as their contractors complete renovations.
You can secure 100% of the cost to acquire the property and for the rehab costs. There is no prepayment penalty, you can secure 6 month loan terms, loan amounts start at $25,000, and most residential 1-4 family units that are non-owner-occupied will qualify.
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