Our Conventional Rehab Loan is an excellent choice if you’re interested in purchasing a property that needs renovation or repair. This loan program provides financing for both the property acquisition and the necessary renovations, making it easier for you to transform a fixer-upper into your dream home.
Benefits of our Conventional Rehab Loan for Purchase:
- Financing for Property Purchase and Renovations: Our rehab loan covers the costs of acquiring the property as well as the renovations or repairs needed. With this streamlined approach, you don’t need separate loans for purchase and renovation, simplifying the financing process.
- Low Down Payment Options: We offer a low down payment of just 3% to 5% of the purchase price, allowing you to preserve your savings for the renovation or construction expenses. This means more financial flexibility for your project.
- Flexibility in Property Selection: Whether you’re looking to purchase a distressed property, a fixer-upper, or customize your existing home, our rehab loan can accommodate your needs. You have the freedom to choose a property that aligns with your vision and renovation goals.
- Expert Guidance and Support: Our experienced loan officers will guide you through the entire process of obtaining a rehab loan. They will help you understand the eligibility requirements, loan terms, and documentation needed to secure financing for your renovation project.
- Competitive Interest Rates and Terms: Our Conventional Rehab Loan offers competitive interest rates and flexible terms, ensuring that you have an affordable financing solution for your renovation project. We work with you to customize the loan terms to meet your specific needs and budget.
In addition to rehab purchase, our Conventional Rehab Loan also provides attractive options for refinancing an existing property that has undergone renovations. Here are the lucrative benefits of our Conventional Rehab Loan for refinance:
- Value-Based Financing: If you’ve increased the value of your property through renovations and improvements, our rehab loan allows you to leverage this increased value for future financing options. You can consider refinancing or taking out a home equity loan or line of credit based on the new appraised value.
- Post-Construction Mortgage Options: Once your renovation or repair work is complete, you can explore different mortgage options to replace the rehab loan. This includes refinancing into a conventional mortgage or exploring government-backed loan programs such as FHA or VA loans, provided you meet the eligibility criteria.
- Home Equity Options: As you build equity in your renovated property, you can consider leveraging that equity for future financing needs. This can include accessing funds for other investments, home improvements, or personal expenses through options like a home equity loan or line of credit.
- Ongoing Support and Guidance: Our experienced loan officers are committed to providing support and guidance even after the construction phase. They can assist you in exploring post-construction financing options, refinancing strategies, and determining the best course of action based on your financial goals.
Whether you’re purchasing a rehab property or refinancing after renovations, our Conventional Rehab Loan offers convenient and flexible financing solutions. Contact our experienced loan officers at 888-848-7199 to discuss your specific project and learn more about how our Conventional Rehab Loan can help you achieve your goals. We are here to assist you throughout the process, providing personalized guidance and ensuring a smooth financing experience.