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Rates as low as 2pts and 12.9% interest. Call us for even lower rates on larger loans!

Frequently Asked Questions

  • In what states can I receive a rehab loan?

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    Colorado, Connecticut, Delaware, Florida, Georgia, Maryland, Massachusetts, New Hampshire, New Jersey, New York, North Carolina, Pennsylvania, Rhode Island, South Carolina and Virginia.

  • How much can I borrow for my rehab loan?

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    We generally make loans of $50,000 to $1,000,000 and will lend up to 65% of the After Repair Value of the property that would be the collateral for the loan. Therefore, the value of the property, as well as your credit history and your ability to make the loan payments will determine how much you can borrow. 

  • Will you lend to an LLC, LP or corporation?

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    Yes, we will lend to a legal entity as long as the principal(s) of the entity have sufficient credit history and will personally guaranty the loan. There are often benefits of entering a loan together. Read more about the benefits of a house flipping partnership here. 

  • How fast can my loan close?

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    If approved, your loan can close as soon as RFG receives an acceptable title, appraisal and inspection report, frequently in less than two weeks.

  • Do you require collateral other than real estate?

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    Generally, our loans are secured only by non-owner occupied residential investment property. Only in special circumstances would additional collateral be required.

  • How do I apply for a rehab loan?

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    Just click on the “Get Application Started” tab at the top of this page or call toll free at (877) 960-0207 to begin the application process today.

  • What are your loan terms?

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    Please click on the Loan Terms tab at the top of this page to see the terms of a RFG rehab loan.

  • What documents will I need in addition to the application?

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    Please click on the How Rehab Loans Work tab within the Learning Center to see a description of what you will need to provide in addition to the application for a rehab loan.

  • Do you lend on purchases only, or would you lend on refinance?

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    RFG lends money for both purchases and refinances of rehab properties. All “cash out” from refinances, however, must be retained as rehab funds.

  • Will RFG provide a proof of funds letter?

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    Yes, RFG will provide a proof of funds letter after the potential borrower has been financially qualified. The proof of funds letter will be contingent upon further review of the borrower and the collateral.

  • Can I pay off my rehab loan before the maturity date without a penalty?

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    Absolutely! RFG loans don’t carry prepayment penalties or fees. You are permitted to pay off your rehab loan at any time prior to its maturity date without any penalty.

  • How do I calculate my monthly payment?

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    Take the total loan amount and multiple by your interest rate (depending on loan type and borrower qualifications, this will be between 0.139 – 0.159). Divide by 12 to come up with your monthly payment.

  • How do I calculate the points?

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    Depending on the loan type and borrower qualifications, this will be 2.5-5% of the total loan amount.