Rehab Funding for
Investment Properties

Rehabilitation Loans are a little different than the rest of our Owner-Builder construction programs. These are hard-money loans, and are strictly for investment purposes. Rehab loans are used to buy an existing property and rehabilitate that property into a like-new, more marketable dwelling.  Investors utilizing our rehab loan programs can either sell the newly remodeled property for a profit, or refinance the rehab loan in order to hold onto the property as an income-generating investment.

Rehab Loan Highlights:

• 100% of Purchase Price AND 100% of Repair Costs, No To Exceed 65% of the Subject-to Appraised Value (value of property after all repairs are complete)
• Up to 12 Months Construction Time
• Interest-Only Payments
• A Variety of Payment Options
• Seller Concessions OK (as long as the loan does not exceed 65% of the Subject-to Value)
• No Prepayment Penalty!
• Self Build or Third Party Contractor

FOR INVESTMENT PURPOSES ONLY.  BORROWER NOT PERMITTED TO LIVE IN HOUSE DURING LOAN TERM OR REHABILITATION.  For owner-occupied home improvement loans, please contact  a residential mortgage broker.

HARD MONEY & BLANKET LOANS ALSO AVAILABLE IN NORTH CAROLINA AND VIRGINIA.  Contact Labrador Financial Services, Inc. for your Hard Money Commercial Loan in North Carolina or Virginia. 1-877-394-4826.

Borrowers with 690+ Credit Score may differ upfront lender points and pay at the conclusion of the loan term, when the house sells, or when permanent financing is obtained (whichever comes first). Lender fees charged will be 9 points instead of those listed below.

CASH FLOW! You've heard the statement "Cash is King". That is why these programs are attractive for investors. The rates are high because the lender's risk is high. But if you can turn a property relatively quick for a handsome profit, isn't it better to get the financing elsewhere than tie up your resources to get the project complete?  Any seasoned investor will tell you that it is easily worth the expense, and you aren't likely to get a rehab loan from your local bank.

Details:

All loans have their own details, guidelines, and fine print.  Here they are for our Owner-Builder Construction Finance Programs.

Owner-Builder L-RE1 L-RE2 L-RE31 Maximum Loan-to-Value 65 65 65 Maximum Loan-to-Cost 100 100 100 Minimum Credit Score 620 630 670 Payments Made interest paid monthly .75% of the loan amount ZERO for 6 months Prepayment Penalty 0 0 0 Interest Rate 15 18 18 APR* 22.92 26.65 26.65 Lender Points 6.0 7.0 7.0 Broker Fees vary based on property location, loan amount, construction length, etc.  Call your commercial loan officer to get an individual quote. *APR based on $100,000 loan amount, 65% Loan to Value, loan held for full year, and assumed broker, attorney and settlement fees.  Actual APR may vary.  Rates and terms subject to change without notice.  The above information is not a rate quote nor an offer of credit.  The data is offered as a sample of what might be available and is for informational purposes only. Please contact your lender for actual rate quotes and guidelines based on your individual project and circumstances All rehab loans are for investment purposes only. Owner-occupied properties do not qualify for this program.