What is rehab financing? Rehab financing bridges the gap and give you cash to fix up the house and make it livable.
What property is eligible for rehab financing? Rehab financing is not for all properties. The rehab lenders have special training in rehab financing. Hard money financing can be used for acquisition, short sales, rehab financing, foreclosure bailout and lending on commercial and residential properties.
Good rehab financing is so critical. Decide whether you will use your own money, try rehab financing, or apply for an investment property loan. Rehab financing is available; however those loans are tougher to get and usually come with a higher cost. Ensure that you have plenty of credit or cash available to complete a project – rehab financing is an option used by many investors for flipping houses. Try to figure out that whether you will use your own money, rehab financing or an investment property loan. Most rehab financing requires no down-payment and some programs offer cash back if you have recently purchased the property. You can even use rehab financing that will cover the costs of purchasing and remodeling.
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