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Updated over 8 years ago on . Most recent reply
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How Much To Pay For The Rehab Loan
We have four properties we have just foreclosed on that need lipstick rehabs. Trying to figure out what to offer the investor that provides the rehab loan. In addition to giving them a 1st lien for extra security, what do rehab lenders typically charge, or what would you pay a private lender to cover 100% of the rehab costs?
Thanks to all who can enlighten me...
Most Popular Reply
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lenders usually charge 4 points and rates from 9% to 12.99% interest only. The Term is usually 6 months or 1 year. The final rate depends on a combination of factors. If there is a broker involved, broker usually gets about 2 points.