We fund rehab loans for real estate investors across the country. We have very flexible lending guidelines with stated income, No Doc loans non owner occupied commercial real estate loans.
We like to see at least 30% down payment of both the purchase price and remodel budget. We require the after value to be greater than $80,000.
We require that rehab loans set up construction escrow at closing and held in escrow account for contractors to be paid after work is completed, inspected and lien waivers turned in with escrow company.
Owner Occupied Rehab Program
Homebuyers can check the various programs online and discover how qualifying for a rehab mortgage loan works. The FHA rehab mortgage program, can benefit you? The FHA rehab mortgage program is a special program that allows first time home buyers to finance the purchase of a house and the cost of its improvements through a single mortgage. To meet the requirements of an FHA rehab mortgage loan, the property must meet specific criteria.