How would you like to get an acquisition and repair loan for your investment property, and not have to make monthly payments for six months? How helpful would this be for your investment strategy and for your monthly cash flow? If you are qualified, Rehab Funding will arrange this for you!

• Credit score minimum: 700
  
• Loan will be 100% of the sale price and 100% of the repair funds, not to exceed 65% of the ARV (after repair value).
  
• 2 Week Close
  
• 12 Month Term
  
• 8 points (after you have paid off your 3rd loan, Rehab Funding will reduce its points to 4.5 for all subsequent deals).
  
• No payments for the first 6 months of the loan term. From the 7th month on, borrower makes interest only payments until property is sold or refinanced. Deferred interest would be paid once loan is repaid.
  
• The interest rate is 1.575% per month (18.9% on an annual basis).
  
• There is never a penalty for early loan pre-payment.
  
• Major benefit: Your cash flow!

***Please note that other closing costs such as, taxes, insurance, title fees, broker fees etc. are separate from Rehab Funding’s closing costs that are noted above.

Repair Funds

Repair funds go into an escrow account at the time of closing. The escrowed repair funds are paid to the rehabber on a reimbursement basis. That is, upon request by the rehabber, Rehab Funding will send a 203K inspector, who will then send a report indicating the work that has been completed since the last inspection. Rehab Funding will reimburse the rehabber in accordance with the budgeted repair list presented by the rehabber at closing. Appointments for inspections in order to receive payments, must be made at least (3) days in advance.

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.

pay-plans.pdf