What is a Rehab Loan?

A rehab loan is a type of loan that is used to finance the renovation or rehabilitation of a property. This is also known as a renovation loan or a fix and flip loan. Rehab loans can be used to purchase a property that needs repairs, or to refinance an existing property and fund the cost of renovations.

Benefits of Rehab Loans

How to Qualify for a Rehab Loan

Qualifying for a rehab loan requires careful consideration of various factors, especially for experienced real estate investors. Enhance your chances of qualification with the following:

Good Credit:

• Essential for rehab loan approval, a credit score of at least 620 (conventional) or 580 (FHA 203(k)) is typically required.

Sufficient Cash Reserves:

• Lenders expect borrowers to have ample cash reserves (at least six months) to cover unexpected renovation expenses.

Real Estate Investing Experience:

• Experience in real estate investing enhances your eligibility for a rehab loan.
• Lenders seek assurance that borrowers possess the knowledge and expertise to successfully complete a renovation project.

Detailed Renovation Plan:

• A comprehensive renovation plan outlining project scope and estimated costs improves qualification prospects.
• Lenders prefer borrowers with a clear and realistic plan for the renovation.

Additional Highlights:

Specialized Loan Options:

• We offer a range of specialized rehab loan options tailored to diverse renovation needs.
• Our goal is to empower investors and homeowners to achieve their renovation goals effectively.

Expert Guidance:

• Benefit from our expertise in rehab financing.
• Our team is dedicated to assisting you in navigating the rehab loan process successfully.

Customized Solutions:

• Explore our rehab loan products designed to suit various property renovation scenarios.
• Tailored solutions ensure your unique needs are met.