Rehabbers Capital will lend up to 70% LTV (including repair costs) based on eachproperty and its location.
Rehabbers Capital will lend construction dollars within the defined parameters of its LTV and loan agreement.Rehabbers Capital will attempt to make each transaction as simple as possible utilizing reasonable prudent business practices understanding the necessity for fund availability. Inspections will be required on each draw.Project completion is a pre-condition to the next draw. Draws are made in arrears.
Each subsequent loan is conditioned upon the prompt payment history of any previous or existing loan(s).
We lend on single-family residential real estate in Texas, only.
An “As Improved” appraisal by an FPLP approved appraiser will be required prior to closing and funding.
Rehabbers Capital MUST order the appraisal. DO NOT order the appraisal.
A loan agreement will be executed prior to or at closing for each transaction, which will set forth the loan amount, construction draws, amounts and times if applicable
ITEMS WHICH MAY BE INCLUDED IN THE LOAN:
Subject to the loan to value requirements, the following items may be included in each loan:
Rehabbers Capital points & fees
Title Company Charges
Insurance – One year pre-paid policy with Vacancy Clause
Multiple Assignments or Flip Fees
Rehabbers Capital will examine each transaction which has assignment fees to protect the integrity of the lending process.In a situation where multiple assignment, flip, or contract fees occur, or the appearance of possible impropriety, Rehabbers Capital may request a deferral on said fees.