Rehab Financial Group, LP is a qualified rehab lender offering quick closings on rehab loans for real estate investors. Our clients are typically real estate investors, contractors, and rehabbers who are seeking to acquire and renovate residential investment properties. We will finance the rehab and purchase price! (up to 70% of the “after repair value”)
Rehab Financial Group, LP will provide rehab loans for investors as long as both the asset (the investment property) and the borrower are in good financial standing. The deal must make sense and the borrower must have good mortgage history, good credit (minimum 660 FICO), and cash reserves.Here are some common questions that investors ask when t comes to rehab loans:
1. Do you finance closing costs?
A: Rehab Financial will not finance the borrower’s closing costs. This is the reason that the borrower must have cash reserves – in order to close. To find out the details about our rehab loans lending criteria, visit How Rehab Loans Work.
2. Is there a pre-payment/exit fee?
A: We do not charge a pre-payment or exit fee. Many hard money lenders and private mortgage lenders do charge the borrower an exit fee. At Rehab Financial, we look to develop long-term relationships with our clients, therefore we don’t charge investors any fees to pay the loan off early. At the end of the day it comes down to return on investment and risk management. We always advise our clients to have a clear exit strategy in place prior to closing with us. Most investors either refinance or sell the property to pay off the loan. We like our investors to see a quick and easy return on investment so we can start working on the next deal!
3. How long is the loan for?
A: Our rehab loans are short-term loans lasting for 12 months. On average, most investors pay their loan off within 6 months.
If you would like us answer any more questions you have about our rehab loans, please feel free to give us a call at 610-645-9939. We are open Monday – Friday from 9:00am – 5:00pm.
Thanks and we look forward to working with you !