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Rehab Financial Group

Rehab Loan
Ground Up, 660 - 699 FICO - LG98

Rehab Financial Group

Summary of all Guidelines

Loan Types Rehab Loan
Property Types 2-4 Units, SFR
Lendding Area alabama, california, colorado, connecticut, delaware, florida, georgia, illinois, indiana, iowa, kansas, kentucky, louisiana, maine, maryland, massachusetts, michigan, minnesota, mississippi, missouri, montana, new-hampshire, new-jersey, new-mexico, new-york, north-carolina, ohio, oregon, pennsylvania, rhode-island, south-carolina, tennessee, texas, utah, virginia, washington, west-virginia, wisconsin
Loan amount Minimum $50,000
Loan amount Maximum $1,000,000
Terms 6 month, 1 year, 18 month
Credit Score Min 660
Reserve Requirement 7 months
General Pricing or Guideline info HOW IT WORKS: 1. The approval for this loan is based on ground up construction experience, cash for closing + 6 months reserves, credit and income. a. At least 1 verifiably completed ground up within the most recent 12 months. 2. Land must be purchased in advance, have a foundation poured with permits approved for building. b. RFG may refund the cost of the foundation as part of the total loan subject to appropriate ARV limit. Experienced 1-4 family builders may qualify for refund of land purchase price.   [] Closing times typically 10-14 business days   [] Call for rate/program with FICO < 660   [] Loan size $50,000 – $1,000,000   [] Your choice on level of transaction involvement   [] Interest as drawn for construction >$100,000
Updated as of 2023-01-30

HOW IT WORKS:
1. The approval for this loan is based on ground up construction experience, cash for closing + 6 months reserves, credit and income.

a. At least 1 verifiably completed ground up within the most recent 12 months.

2. Land must be purchased in advance, have a foundation poured with permits approved for building.

b. RFG may refund the cost of the foundation as part of the total loan subject to appropriate ARV limit. Experienced 1-4 family builders may qualify for refund of land purchase price.



[] Closing times typically 10-14 business days



[] Call for rate/program with FICO < 660   [] Loans size $50,000 – $1,000,000   [] Your choice on level of transaction involvement   [] Interest as drawn for construction >$100,000

These descriptions are limited information and meant for general reference purposes.