Bad Credit Real Estate Financing

For Bad Credit of All Types:

  • Bankruptcies OK
  • Foreclosures OK
  • Judgments OK
  • Low Credit Scores OK
  • Late Payments OK
  • No Credit Score OK

Private / Hard Money Rehab Loans – How It Works

Step 1 of starting the application process is to complete and send back our application.

Listed below are some of the terms and qualification documents required for a rehab loan approval:

PROPERTY TYPE: Residential non-owner occupied 1 – 4 family residential investment properties Commercial properties of all types
STATES: In almost all 50 states
LOAN SIZE: $50,000 – $1,000,000
LIEN POSITION: First mortgage only.
STANDARD TERM: 6 – 12 Months.
REHAB LTV: We lend 100% of the purchase and rehab costs, up to 65% of the After Repair Value.
EXAMPLE DEAL: $100,000 Purchase. $100,000 Rehab.
Minimum ARV to Get 100% Financing (65% LTV) for $200,000 Project is $307,692
RELEASE OF REHAB FUNDS: Rehab funds are usually paid in draws AFTER verification of repairs.
POINTS: Up to 6 points paid at closing.
INTEREST: Up to 16% interest only paid monthly.
CLOSING COSTS: Paid at closing.
PRINCIPAL’S FICO: 500 min FICO
GUARANTY: Personal guaranty required.
REQUIRED DOCUMENTS: Completed loan application & supporting documents, including, but not limited to:
(i) 6 months of bank statements
(ii) 6 months of merchant statements (if your business accept credit cards)
(iii) Most recent pay stubs
(iv) Verification of employment and other mortgages
LOAN DOCUMENTATION: Purchase Agreement
Scope of Work
Builders Risk or Liability Insurance

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