Rehab Financial Group

100% Hard Money Premier Loan Program

• LTP: 100% of the Purchase Price
• LTC: Up to 100% of repair cost
• LTV: Up to 70% (Based on After Repair Value)
• Loan amount: $50,000 to $2,000,000
• Credit Score: 620 minimum – FICO scores below 620 will need a co-borrower or guarantor
• Origination Fee: As low as 2.0 points (paid at closing)
• Interest Rate: As low as 9.99% interest (payable monthly)
• Loan Term: 4-12 months – You must sell or refinance the property to pay off the loan
• 3 months of interest reserves
• Additional closing costs are due at time of closing
• One-time $250 application fee
• No prepayment penalty
• Financing delivered in 14 days or less

Documentation Required for 100% Hard Money Program:

• Completed Loan Application (with releases)
• Last 2 years’ tax returns (both business and personal)
• Business entity documents that name the people authorized to sign for the entity
• Agreement of sale
• 6 months most recent bank statements (business and personal)
• 2 most recent pay stubs (if applicable)
• Copy of driver’s license
• Itemized list of repairs

Why We Require Tax Returns
We require tax returns to verify that the borrower has the ability to make the interest payments during the loan term and has the means to cover any cost overruns in case the project goes over budget (we won’t increase the loan amount after funding). This helps minimize the risk of default and foreclosure. We want our clients to succeed, and we don’t want to own their properties.

Broker Price Opinion (BPO) for Rehab Loans

The No Appraisal Option for Experienced Investors to Get Funding Faster than Ever Before! Broker Price Opinion, short for BPO, is the newest offering from Rehab Financial Group intended for experienced investors and repeat borrowers. If the requirements are met, there is no appraisal required and you will get 100% financing on hard money loans, as well as up to 70% ARV.

• This program is based on verified credit, income/cash flow, and cash for closing.
  • Minimum mid-credit score of 725 with prior mortgage history paid as agreed.
  • 3 or more completed projects in the past 36 months.
  • HUD’s from purchase and sale of property will be required.
• BPO must be ordered with RFG through our approved vendors.

If an investor does not meet the requirements, the loan will need a full appraisal prior to funding.

Ground-Up Construction Loans

Expand your real estate investment solutions for 1-4 unit residential investment properties and developments with up to 10 homes. Featuring fast closings and common-sense underwriting. Our 100% Premier Ground Up product is a quick, smart and effective alternative for financing construction costs prior to transitioning into a long-term loan. This loan is approved based on ground up experience, cash for closing + 6 months reserves, credit and income.

• Experience Required: At least 1 verifiable completed ground-up within the most recent 12 months.
• Land LTP: 0% – We do not offer land purchase money
  • Land must be purchased in advance, have a foundation poured with permits approved for building
  • RFG may refund the cost of the foundation as part of the total loan subject to appropriate ARV limit
  • Experienced builders may qualify for refund of land purchase price
• LTC: Up to 100% of construction costs
• LTV: Up to 65% (Based on Completed Value)
• Loan amount: $50,000 to $1,000,000
• Credit Score: 660 minimum – FICO scores below 660 will need a co-borrower or guarantor
• Loan Term: 8, 12, or 18 months
• Additional closing costs are due at time of closing
• One-time $250 application fee
• No prepayment penalty
• Financing delivered in 14 days or less

30-Year Rental Loan Refi & Purchases

For investors who have an existing short-term loan looking for an opportunity to streamline a 30-year term Debt Service Coverage Ratio (DSCR) loan for non-owner-occupied rental properties.

• Loan to Value (LTV) for Refinance: Up to 75% (including cash out)
• Loan to Purchase (LTP): Up to 80%
• Loan Term: 30 year fixed, 5/1 ARM, 10 year interest only options
• Loan Amount: $75,000 – $2,000,000
• Property Type: SFR, Condo, 2-4 Units, Mixed-Use & Multifamily up to 20 units
• Portfolio Loans also available
• Appraisal Required prior to closing
• Credit Score: 640 minimum FICO score

Initial Documents Required

• Refinance Application
• Borrower’s Authorization to Run Credit
• Property Management Form
• Bank Statements from the Past 2 Months
• Title Contact Info
• Current Driver’s License/Photo ID
• Go-Ahead From Borrower to Proceed

Secondary Documents

• Entity Documents: Operating Agreement, Article of Organization, Tax ID, LLC Consent
• Proof of Property Insurance
• Purchase & Sale Agreement

Trailing Documents

• Tenant Leases
• Tenant Payments
• Property Tax Bill
• Certificate of Good Standing
• Proof the Property Insurance Premium has Been Paid