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Home rehab investors are individual entrepreneurs who find housing properties that need rehabilitation. Their sole purpose is to purchase the property, fix it up, and sell or refinance it. House rehabbing can be very lucrative if the properties are chosen wisely, the work is done right, and if this is all done in a timely fashion. Choosing the right financing is crucial.

Without the right financing, the rehabber's ability to act quickly, purchase the property, and be able to renovate it properly, will be severely limited. These loans were designed to address the very specific needs of the rehab investor. Each loan is for a term of one year, but may be paid off at any time. There are no seasoning issues or pre-payment penalties.

Rehab-Friendly Terms

Loan will be 100% of the sale price and 100% of the repair funds, not to exceed 65% of the ARV (after repair value).
Turn around time on the loan: Within (2) weeks.
Maximum length of the loan: (12) months.
No pre-payment penalties
Seller’s concessions/assists may be used to finance the closing costs, as long as the loan does not exceed 65% ARV.
If purchase and repairs costs are below 65% of ARV closing costs can be wrapped into the loan.
Interest only payments (no principal) until the property is sold or refinanced.
There is no penalty for early loan pre-payment.
Repair funds go into an escrow account: The escrowed repair funds are paid to the rehabber on a reimbursement basis. The rehabber pays for materials and labor and presents these receipts and/or lien waivers as required. Appointments for inspections in order to receive payments must be made at least (3) days in advance. Copies of the receipts and/or lien waivers must be provided at the time of the reimbursement
Rehabbers are not permitted to live in a mortgaged property. The property must be purchased for the sole purpose of renovating it and either selling it, or eventually refinancing it. This cannot be your primary place of residence.

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