Blog

Rehab Loans

January 25th, 2012

ExpressLoan has been offering loans specifically designed for the professional rehabber for several years now. Our program is simple, if you are an experienced rehabber, that is, 2 or more successful rehab transactions in the last year or so, we offer up to 80% of sales price financing.

Here is how that works, we will loan up to 80% of the initial purchase price as long as that does not exceed 65% of after repaired value (ARV). It really is that simple.

In most cases we will hold a predetermined amount of funds to be disbursed to the rehabber either upon completion of the project or as draws as the work gets completed. In this way, you can maximize your financing so that you may be able to work more than one rehab or construction job at the same time.

For those individuals that do not yet have the experience in rehabbing properties we can go up to 70% of the initial purchase price not to exceed 60% of ARV.

In addition to higher loan to values offered experienced rehabbers, we also offer fee discounts to returning borrowers. We can be flexible this way because we are a private / hard money lender.

And please, remember, we are a direct private money lender, we will not send your loan out somewhere else to get it approved or funded as long as the loan amount does not exceed our in house limit of $500,000.00.

If you would like more information or to get started with your next rehab job, please call me, Brent Calver at 800-635-6222 or send me an email to brent@expressloan.com.