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Friendly Rehab Funds

Virginia Based Private Real Estate Lending

Rehab Loan

Property Types 2-4 Units, Multi Family, Restaurant, Self-Storage, SFR
Lendding Area virginia
Loan amount Minimum $25,000
Loan amount Maximum $1,500,000
Interest Rate Minimum 6%
Interest Rate Maximum 20%
Points Maximum 1st TD 4
Terms 6 month, 9 months, 1 year, 18 month, 2 year, 3 year, 4 year, 5 year
Interest Only or Amortized Interest Only
Extensions Available Considered based on Performance
Prepayment Penalty 3 months
Fixed or Adjustable Fixed

Summary of all Guidelines

Loan Types Rehab Loan
Property Types 2-4 Units, Multi Family, Restaurant, Self-Storage, SFR
Lendding Area virginia
Loan amount Minimum $25,000
Loan amount Maximum $1,500,000
Interest Rate Minimum 6%
Interest Rate Maximum 20%
Points Maximum 1st TD 4
Interest Only or Amortized Interest Only
Prepayment Penalty 3 months
Fixed or Adjustable Fixed

Friendly Rehab Funds offers unparalleled leverage for your next rehab.

To leverage something is to use it to its maximum advantage. Financial leverage uses debt to acquire assets you otherwise might not be able to afford and multiply profits as a result. You might be an experienced investor who has all his or her cash tied up in other projects. Working with a hard money lender allows you to grow your business even if your own money’s deployed somewhere else. On the other hand, you might be new to real estate investing and only have modest capital to invest. This capital is not enough to buy and rehab a property, but by working with a hard money lender you can effectively compete with all-cash buyers.

Are you a real estate investor planning to buy an investment property in The Greater Richmond Area, Fredericksburg, Charlottesville, Virginia Beach or Williamsburg? If so, talk to us. We offer private financing that is fast, flexible, and focused on our local market.

Friendly Rehab Funds is one of Virginia’s most experienced direct hard money lenders with over 15 years of hard money lending experience. We provide hard money loans in The Greater Richmond Area, Fredericksburg, Charlottesville, Virginia Beach and Williamsburg for real estate investors and property owners through asset-based lending for various real estate projects and transactions including single-family residential, multi-family residential and commercial.

Our clients rely on Friendly Rehab Funds for fast approvals and funding, competitive rates and fees, flexible lending criteria and excellent service. Hard money loans for investment property can be funded within 5 days. We provide both 1st and 2nd hard money loans and lend to numerous types of borrowers including individuals, entities (LLCs, partnerships, corporations), trusts and estates. Contact Friendly Rehab Funds for a free consultation.

FREQUENTLY ASKED QUESTIONS

1. What Is Your Operating Philosophy?
- Our operating philosophy is simple: if we can make your deal work, we will. We do NOT have a “one-size fits-all” mentality; we think outside the box. Most of our business is from prior customers. They like doing business with us because our process is easy, our service is friendly and our terms are competitive.

2. Just How Easy Is It to Get a Loan on a Property?
- Because our loans are “NO DOC” to “Lite Doc” it’s VERY easy to get funding to close on your next project. We work with our customers to provide loans quickly and with minimal effort on their part. We commonly approve a loan within 24 business hours of the investors request.

3. How to Get a Proof of Funds and Get Pre-qualified for a Loan
- Complete our quick and easy online loan application, click the send button and we’ll get back to you within 24 business hours.

4. What Are the Steps in Getting a Loan to Closing?
-
a. Send us a copy of the ratified purchase agreement along with an estimate of repair costs.
b. We’ll appraise the property and send you a funding proposal within 24 business hours.
c. Lender’s visit to the property is done within 72 business hours.

5. How Quickly Are Your Loans Approved?
- Loans are typically approved within 24 business hours of receiving a copy of the ratified purchase agreement and renovation estimate.

6. How Much Will You Loan on a Property?
- We typically loan 65 to 70% of a property’s after-repair value.

7. Are There Ways to Minimize the Down Payment in a Deal?
- A common way to minimize, or eliminate, cash needed to close is to use another owned property that is owned free and clear, as additional collateral.

8. What Fees Are Involved in Getting a Loan?
- Assuming the loan goes to closing, aside from interest costs, there are NO LENDER FEES in getting a loan.

9. What Interest Rate and Points Do You Charge?
- Interest rates and points charged depend on the type of loan, the loan term, the borrower, and the size of the loan. They typically range 1.50% to 1.82% / monthly.

10. How Are Construction Draws Paid Out?
- We commonly schedule a property draw visit within 3 business days of receiving a draw request.

11. How Are Monthly Payment Charged and Billed?
- We do all we can to help an investor’s cash flow. To do so, we commonly defer interest payments from 3-6 months on a given deal.

12. How Long Will You Finance a Project?
- Our loan terms are generally for 9 months. We commonly provide a 3-month loan extension upon by the investor.

13. Are Monthly Loan Payments Interest Only?
- Yes, our loans are payable monthly, interest only.

14. On What Types of Projects Will You Lend?
- We typically loan on single-family and multi-family properties.

Friendly Rehab Funds is located in Richmond, VA. They offer financing for Rehab Loans. The property type they primarily lend against is 2-4 Units, Multi Family, Restaurant, Self-Storage and SFR. Their minimum loan amount is $25,000. Their maximum loan amount is $1,500,000. Although rates can change they are typically lending at a minimum rate of 6%. Maximum interest rate of 20%. Points charged are deal specific, but historically have charged a minimum of 0. Maximum points charged are 4.

These descriptions are limited information and meant for general reference purposes.
1516 Willow Lawn Drive, #103
Richmond, 
VA
 23230