You can enjoy a quick closing and high loan-to-values with our rehabilitation loans. Rehab loans are tailored for the real estate investor who wants to purchase properties and need to make repairs before selling the property.
Using the property as collateral, funds are available for short-term residential purchase and 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.
You can secure financing for as high as 100% of the property and rehabilitation costs. To be approved your total loan amount should not exceed 65% of the property’s after-repaired-value. There is no prepayment penalty for early repayment and you can secure 6 month loan terms.
Most residential 1-4 family units that are non-owner-occupied will qualify. Small apartments and condo conversions area also allowed by exception. This loan does must take first mortgage position. You can obtain loans starting from $25,000 or more, and you will need a 660 or higher credit score to qualify.
This is an outstanding program for any real estate investor looking to purchase and rehab properties.
“The business credit coaching program has been great. I am a startup company and because I had good personal credit, my funding adviser was able to help me obtain my startup capital, within 60 days.”Stella H McKinney, Dallas TX
“Hi my name is Ivan Sugussen, from Castle Food Company. I have been in the business of credit coaching for about five months now. I am really excited about what just happened Tuesday. I was approved for a $10 million line of factory credit. This is going to be vital to my company as we continue to grow. I have found the coaching program to be very thorough, and while it did take some time, I can say with full confidence, that my company is now creditable and has the financial backing to allow us to grow.”Ivan Sugussen, Castle Food Company
"Because I had an existing business and good personal credit, I was able to go through you program really fast. So far, I have obtained about $50,000 in business credit. I am already on step five and it has only been a couple of months. Thanks for all the help."Mari Mcclure, Chalmette LA