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Updated almost 6 years ago on . Most recent reply

Joseph A.'s profile image
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Joseph A.
  • from New Rochelle, NY
  • Member since Aug 16, 2018
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Joseph A.'s profile image
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Joseph A.
  • from New Rochelle, NY
  • Member since Aug 16, 2018
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Joseph A.
  • New Rochelle, NY
150
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Creative Real Estate Financing

Rehab Loan Products for Properties Owned Free and Clear

Joseph A.
  • New Rochelle, NY
Posted

I am in the process of purchasing a property and will own it free and clear. I was interested in finding out if there are any loan products that will lend for rehab only. Also if there are some creative strategies people are using, I'd be interested in knowing what you guys are doing. Thanks for any input you can provide.

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Jerry Padilla's profile image
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Jerry Padilla
  • #5 Classifieds Contributor
  • Lender
  • from Rochester, NY
  • Member since Mar 25, 2014
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Jerry Padilla's profile image
Jerry Padilla's profile image
Jerry Padilla
  • #5 Classifieds Contributor
  • Lender
  • from Rochester, NY
  • Member since Mar 25, 2014
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Jerry Padilla
#5 Classifieds Contributor
  • Lender
  • Rochester, NY
1,419
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Jerry Padilla
#5 Classifieds Contributor
  • Lender
  • Rochester, NY
Replied

@Joseph A.

What about a home improvement loan or a personal loan? Than cash out refinance after the rehab is done. 6 months you can pull out according to appraised value with conventional at an LTV of 75% for a SFR and 70% LTV for a MFR.

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