House Reseller Program Our clients enjoy a quick closing with rehabilitation loans. Rehab loans are tailored for the real estate investor who wants to purchase and rehab investment 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 your contractors complete renovations. Experienced real estate “flippers”can be approved for up to 100% of the project costs with House Rehab Financing. The property can be used as collateral and the investor can be approved for a loan up to 65% of the home’s value. The loan typically offers a loan term of about 6 months, and a low interest rate commonly under 9%. And, there is no pre-payment penalty if the loan is paid off early. This makes it easy to quickly sell the rehabilitated property once repairs are complete. Only non-owner occupied properties can qualify for our house rehab financing. Financing can be obtained for residential 1-4 unity properties, and even small apartments and condo conversions by exception. All house rehab financing loans range from $25,000 and higher. 100% of renovation funds are typically advanced in 1 to 4 draws. Once the inspector certifies work is done, funds are wired within 24 hours directly to investors account. House Rehab Financing is one of many financing programs available for you through our Web-based Program. Please contact Ann Manalo @ 800-648-5157 to talk more. -Virginia Business Credit and Funding
Posted on: Wed, 16 Oct 2013 17:24:39 +0000
Trending Topics
Recently Viewed Topics
© 2015