Are you a real estate professional who purchases fixer-uppers and rehabs them for improved investment potential? If so, you likely know how important cash flow becomes in these endeavors.
When it comes to rehabbing and renovating real estate investment properties, having cash on hand so you can act quickly is essential. Without the rehab funds you need, you will miss out on many investment opportunities. Thankfully, there are ways you can get money for renovations when you need it most.
Look for a hard money lending company that offers the hard money rehab loans and financing options you need. We can help you get the money you need to compete with other investors and score those prime real estate properties ready to be rehabbed.
We understand you often need to act quickly and do not have time to wait on a bank to give you the funds you need. A residential rehab hard money lender, will handle every step involved in your hard money rehab loan process.
The process is meant to be straightforward. The guesswork and stress have been taken out of seeking a rehab loan. You can even get a same-day loan pre-qualification if you contact us immediately.
What Is a Hard Money Rehab Renovation Loan?
A hard money rehab loan is meant to help you purchase properties that need a little TLC. With the capital to rehab and renovate these properties, you will increase the value of your real estate investment portfolio and see greater profit potential.
Once the lender approves your loan, the rehab loan budget and draw schedule will be created right away. The loan draw schedule is your detailed payment plan, determining when each payment will be released to your contractor.
We understand you likely have many questions regarding this type of rehab loan and your options. We are here to present you with accurate loan information so you have the answers you need. Need further help? Contact us right away with any questions. We want to help you get pre-approved now.
What Types of Real Estate Properties Are Eligible?
For most hard money lending companies, almost all types of properties are eligible for a hard money rehab loan. You can purchase single-family homes, multi-family homes, condos, townhomes, strip malls, and office buildings. Sometimes, lenders like us can even approve land purchases, depending on the circumstances.
EXAMPLE LOAN SCENARIOS
Timeline for Hard Money Loan Processing
We realize you don’t have time to wait around. With loan pre-approval possible in one day and closing in three, this is the fastest option for getting a rehab loan. You won’t wait weeks like big banks because we understand you need the capital now.
Timeline of Rehab Loan Funding
Rehab loan funding occurs the same day or, in most cases, by the next business day. Stay informed throughout the process, so you know exactly when your funds will be available.
Borrowers usually have no problems with the loan application process, as long as they fill out their application in its entirety and with accurate information. Please do not attempt to get a rehab loan on your primary residence, as this is not an option.
What Are the Fees and Credit Requirements Involved?
The appraisal and legal fees on rehab loans will vary according to different loan types. Work with a company that is upfront about all loan fees from the very beginning.
Because hard money rehab loans are based on the value assessment of the property, most credit types are accepted, even if you have had a bankruptcy. Get started now for pre-approval.
Learn About the Benefits of Hard Money Rehab Loans
One of the biggest benefits of obtaining a rehab loan is the speed. If you’ve ever applied for a traditional bank loan from a conventional lender, you know the waiting process can be arduous. You don’t have time to wait weeks for approval on hard money rehab loans, and doing so just means other investors are scooping up the best properties from under your feet.
The terms of hard money rehab loans are highly flexible. Even if your credit is less than desirable, you can still get approved because hard money rehab loans are based on the assessment of the property and not on the borrower.
With quick capital and flexible loan terms, you can act quickly and purchase the best properties that will add to your investment potential. Get started now to see what can be done to meet your real estate investor rehab funding needs.
MORE EXAMPLE LOAN SCENARIOS
Frequently Asked Questions
We know you have questions about rehab loans and how they can benefit your investment needs. If you are considering a hard money renovation loan, allow the following questions and answers to give you the information you need.
How Do Home Rehab Loans Work?
If you own an investment home that needs rehabilitation or you want to purchase a property to renovate, hard money rehab loans from lenders like us are ideal for obtaining rehab funds. Hard money rehab lenders like us will learn about your investment project and help you determine if a hard money rehab loan is right for you.
How Can I Get a Hard Money Rehab Loan?
You can easily apply for home rehab loans online or contact our team today. As an experienced lender, our team has years of experience working with private money loans and rehab funds, and we will be happy to help you every step of the way.
What Are the Requirements for These Loans?
Unlike big banks and traditional lenders, residential rehab hard money lenders don’t ask for your entire history. Because they are a private company, they don’t have strict loan requirements. All they need to do to get started is talk to you about your property and the amount of capital you need. We will be happy to help you understand the process of home rehab loans.
Get Started Today for Same-Day Pre-Approval
Get started today to get pre-approval the same day and start receiving rehab funds. A private hard money lender will be happy to help you get the answers you need. Allow us to discuss your property and capital needs. The process is lightning fast and will give you the capital you need to succeed in your property rehab endeavors as soon as possible.
Don’t worry about your creditworthiness. A private lender will offer you much less stringent requirements on various loans. Now is a perfect time to get started, so contact us right away.