Oregon Rehab Lenders for Residential Rental Properties
Are you looking to rehab and hold residential rental properties in Oregon? On this page you'll find a list of lenders that provide financing to help investors execute the BRRRR (Buy, Rehab, Rent, Refinance, Repeat) strategy in Oregon's urban areas. You typically need some cash for the purchase (15% to 20%), some cash reserves in case the rehab goes over budget, and a FICO score over 680 to qualify for the long-term refinance. The maximum loan-to-ARV (after-repair value) for most lenders in Oregon is 75%, but it could be lower depending on the rental income, location, credit score and other factors.Searching...
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Funded Rehab Loans for Rental Properties in Oregon
Precision Capital, a direct private lender, funded a $348,550 1st lien position hard money loan for the acquisition and rehab of a single-family residence in Willamina, OR. We funded 100% of the $167,050 purchase price and 100% of the $181,500 renovation budget. The after-repair value was $530,000 so our loan-to-after-repair value was 66%. This property was uninhabitable at the time of purchase. Our Borrower saw the diamond in the rough and we were pleased to help them bring this property back to life! It was approximately 2,535 square feet set in a 5-acre lot. The Borrower had good credit. They plan to lease the property upon completion of the heavy rehab and eventually refinance as an exit strategy. The interest rate was 11.99% and we charged 3% origination points. The loan term was set at 24 months. This SFR hard money loan was funded in April 2022.
Precision Capital, a direct private lender, funded a $348,550 1st lien position hard money loan for the acquisition and rehab of a single-family residence in Willamina, OR. We funded 100% of the $167,050 purchase price and 100% of the $181,500 renovation budget. The after-repair value was $530,000 so our loan-to-after-repair value was 66%. This property was uninhabitable at the time of purchase. Our Borrower saw the diamond in the rough and we were pleased to help them bring this property back to life! It was approximately 2,535 square feet set in a 5-acre lot. The Borrower had good credit. They plan to lease the property upon completion of the heavy rehab and eventually refinance as an exit strategy. The interest rate was 11.99% and we charged 3% origination points. The loan term was set at 24 months. This SFR hard money loan was funded in April 2022.