It’s been a busy summer here at Rehab Financial Group, as we continue to fund loans through the pandemic, add new team members, and have begun offering ground-up construction loans. Read on for all the news about what’s happening at RFG.
We have exciting news here at Rehab Financial Group: we are now funding ground-up construction loans! These are ideal for those looking to fund new construction costs prior to taking out a more long-term loan — and especially those looking for fast, streamlined approvals and closings.
To qualify for the loan, you must have already purchased the land, have a foundation, and permits for building on the land. The build must be between 1-4 units and not occupied by the owner once the build is complete. Those who are experienced with building 1-4 unit properties may qualify for a refund of the land purchase price. In addition, you must have at least one prior ground-up build completed within the last year to qualify. Loan approvals are also based on cash, credit, and income, verified by our common sense underwriting.
New to the RFG Team
We’re thrilled to announce that two new account executives and a new underwriter and loss mitigation specialist have joined our team here at RFG. Between the three of them, they bring a combined 90 years of experience in the lending, mortgage, and financial industries.
James Schreffler is our new underwriter and loss mitigation specialist, with 30 years of experience in the mortgage industry, specializing in underwriting and servicing of residential and commercial real estate. Over the course of his career, Jim held leadership positions in three prominent lending and servicing organizations. He currently lives in Warminster, PA, where he spends time with his three boys and goes to the golf course as often as he can.
Harvey Goldberg, Account Executive, has 35 years of experience in mortgage lending, having worked in senior management positions in multiple national companies, including banks, credit unions, and independent mortgage companies, specializing in conforming and government lending for retail and wholesale reverse mortgage and subprime lending. Prior to joining the team at RFG, Harvey ran his own hard money investment fund with his son in the fix-and-flip space. Harvey lives in Florida with his wife of thirty years and their beloved dog.
New Account Executive David Ellenburg has over 25 years of lending experience and has worked for national banks as well as non-QM and private lenders. David was born and raised in Georgia, where he lives with his wife and enjoys spending time with his four kids and two grandchildren. He is excited to bring his expertise to RFG and help our clients fund their loans.