Home Rehab Loans
What Are Home Rehab Loans?
For any investor looking to complete a deal on time, fast funding is crucial. That is why Prime Plus Mortgages offers fast home rehab loans you need! Our quick home rehab loans make your renovation a reality. With our home rehab loans, get the funds you need for your investment.
A Home rehab loan is a hard money loan that helps real estate investors complete renovations. Hard money lenders base the value of the home rehab loan in the property value, which makes funding fast and easy. By using the after repair value (ARV) of the property, hard money lenders can offer loans for properties that aren’t tied to your credit scores. These loans can be approved in 1-2 days and funded shortly after.
Phoenix hard money lenders base the loan on the value of the asset, and the value of the rehab. If the property and rehab project have good value, you can be approved for a hard money loan quickly. Helping you get the renovation completed and profiting from the flip fast. Home rehab loans make it easy to repair investment properties and profit without lengthy applications.
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How Does Asset Based Lending Work?
Home rehab loans are perfect for investors who need quick funding for their investments. Forget credit scores, income verifications, and other bothersome paperwork. Banks depend on the borrowers scores to lend on properties, while hard money lenders, only look at the property value. Home rehab loans are perfect for real estate investors who can see the profit and value of a diamond in the rough.
Scottsdale hard money loans are easy to apply for. The hard money lender looks at the value of the property, and calculates the after repair value. The lender uses the after repair value to lend on the property, if it is profitable. This makes hard money loans perfect solution for real estate investors. Home rehab loans are given based on the ratio of the property’s value to the loan, after the repairs are completed. This is known as the after repair value or ARV, you can calculate it here.
Phoenix hard money lenders make it easy to get the fund you need to update your flip, or rental. With no credit checks, or time-consuming paperwork, you can apply for a hard money loan 2 clicks or less. Learn More About how you can use your home rehab loans here.
”Prime Plus Mortgages ... Is unlike retail banks, they are not beholden to stringent credit criteria ... Based on your Income and Credit Score ... The team of investors at Prime Plus Mortgages ... Base loan decisions on the underlying value of the asset, and the underlying value of the rehab ... It was only a few weeks from my first call to Prime Plus Mortgages ... Until I had a stack of Cash in my Hands ... Great People ...Big SkyCustomer
Why Use Home Rehab Loans For Your Investment?
Real estate investors need to move quickly on a property when they find one. Home rehab loans are perfect for upgrading a flip or rental to sell on hot market. Fast funding is essential for these deals.
When investors find a hot investment opportunity, they have to act right away. When you work with Prime Plus Mortgages as your home rehab lender, you can get approval on your investment properties in as little as 24 hours. Phoenix hard money lenders are quick to fund and don’t need long applications to get you the funds you need.
Phoenix hard money loans act fast to help you seize that deal and complete the rehab. Making it easier to flip that house for big profits or refinance into a long-term loan.
How Does It Work For Real Estate Investors?
Home rehab loans make funding your investment fast and easy. Whether a flip, or rental in need of upgrades, these Phoenix hard money loans make it easy to get the funds you need. Instead of filling out mountains of paperwork, and hoping to get funded, hard money lenders make it easy to get the money you need.
As Real estate investors ourselves we see the importance of the after repair value of a property. That is why Prime Plus Mortgages can get you the financing based on the ARV. Your credit score won’t hold you back from completing your investment.
Home rehab loans make it easy to get the funds to complete your repairs for your properties. For Rentals, Flips or any other investment, making the right repairs and having the right loans can make or break a deal. Get the hard money loans you need for your investment today.
Why Prime Plus Mortgages?
- Up to 90% LTV
- 10 – 16% interest rate
- Asset based, not credit based lending
- Funds available within 24 hours if needed (our loans really are fast)
- Points vary based on the deal and borrower experience
- No pre-payment penalties