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| Rehab
Loan Features...Designed around the unique needs of custom
home improvement projects! |
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Designed for homeowners who hire a contractor for major
renovations
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Receive up to 95% of completed value for repairs and improvements
- Open
list of Attorneys and appraisers
- All
licensed General contractors are eligible (no
resume required)
- Loans
to $1Million
- Lock
rate at application - Fixed or ARM
- Loan
works like a refinance with funds being paid out during rehab
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Here's how it works. -
If you are considering repairs and improvements to your
existing home, We can lend you the money to pay your
contractor while work is in progress. The loan is a
single-close fixed rate or ARM mortgage and the maximum loan
is based on the new, higher value based on completion. You can
borrow up to 95% of this new value and pay the contractor on a
draw schedule. The loan is locked at application and closes
before the work begins, so there is no need for long-term rate
locks.
Building a new home? Click here. |
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