Rehab Loans Virginia

What Are Rehab Loans?

Rehab loans are loans that help investors purchase and renovate distressed properties. These loans are typically for properties that need significant repairs and renovations. As such, they’re ideal for fix-and-flip investors in Virginia because you can use them to finance both the purchase price and the cost of repairs and renovations.

Projects Financed By Rehab Loans

Real estate investors are always looking for a good deal. One of the easiest ways to find a good deal is to look for properties that need repairs or renovations. Because these properties need work (and their current owners don’t want to – or can’t – spend the money to do the work), they are usually available for a discounted price.

Rehab loans are the perfect type of loan for this type of real estate investment because not only can they cover the cost of repairs and renovations, but they can also cover the purchase price. As such, rehab loans are perfect for the following types of properties:

• Fix-and-flip properties: A fix-and-flip property is a distressed property that an investor purchases to renovate and then sell for a profit. Such properties tend to cost less than properties in good condition, so there is potential to make a significant profit if the renovation goes well.
• Fix-and-hold properties: Instead of flipping a property that an investor fixed up, they might hold on to it and rent it out over the long term instead. Essentially, they will not only increase the value of the property by fixing it, but they can also increase the rent they charge as a result of the improvements that they’ve made.

Who We Work With

Here at Pine Financial Group, we work closely with all types of real estate investors throughout Virginia. In fact, we have provided investors with rehab loans since 2008. The following are a few of the different types of real estate investors that we typically work with:

New Investors

If you’re new to real estate, we can help you get started. We understand that securing financing for your first investment property can be intimidating. That’s why we work closely with new investors to help them secure the funding they need to get started. Because of our experience, we can also provide advice and guidance on the best way to finance your specific investment.

Experienced Investors

We also work with experienced real estate investors looking to finance their next investment property. We realize that experienced investors have different needs than new investors. As such, we offer various financing options designed to meet these needs. When it comes to our rehab loans, we can provide the flexibility to get the job done right.

Investors Who Want To Close Fast

We know that sometimes you need to move fast to take advantage of a good investment opportunity. It often takes traditional lenders over a month to approve and fund a loan. By the time the loan goes through, the opportunity to invest may have passed you by.

That’s why we offer rehab loans that can be closed quickly. We can often get you the financing you need within a few days.

Features Of Our Rehab Loans

There are many advantages to working with Pine Financial Group for your rehab loan needs. A few of the features of our loans that our clients appreciate include:

• No application fees: Unlike many traditional lenders, we do not charge any upfront fees to apply for a loan.
• Up to 100% financing on all purchases: We offer up to 100% financing on the property’s purchase price so that you won’t have to pay out of pocket to close the sale.
• Up to 100% financing on repairs: Repairs and renovations can be expensive. We offer up to 100% financing on repair costs so that you can keep your cash reserves intact.
• Up to 100% financing on lender fees and closing costs: Many traditional lenders will require you to pay their fees and closing costs out of pocket. We finance up to 100% of these costs so that you don’t have to pay anything out of pocket.
• Up to 70% of the After-Repair Value (ARV): The ARV is the property’s estimated value after the repairs and renovations are completed. We will finance up to 70% of the ARV so that you can get the cash you need to complete your project.
• Repair money held in escrow: We understand that you don’t want to front the money for repairs and then have the contractor disappear without completing the work. So to protect our clients, we hold the funds approved for repairs and renovations in an escrow account, which will be released as work is completed.
• Fast closings: As previously mentioned, some investment opportunities require immediate action. We can often get your loan approved and funded in a matter of days so that you can take advantage of these opportunities.
• 9-month balloons: Our loans have a 9-month balloon so that you can have the flexibility to refinance or sell the property after the renovations are completed.
• Interest-only payments made monthly: During the renovations, you will only be responsible for paying the interest on the loan. This payment structure helps to keep your monthly payments low while the work is being done.
• No prepayment penalties: Many conventional loans penalize borrowers for paying off their loans before their term ends. There are no prepayment penalties on our rehab loans, which means you can pay off your loan early without worrying about having to pay a penalty fee.

Advantages Of Working With Us

Here at Pine Financial Group, we enjoy a reputation as one of Virginia’s leading private lenders for real estate investors. We offer rehab loans for both fix-and-flip investors and fix-and-hold investors and are flexible with our loan terms and structure. By working with us, you’ll enjoy the following key advantages:

We Help You Close Fast

No investor wants to wait weeks upon weeks for their financing to come through, only to find out that they’ve missed their opportunity. We understand this and work quickly to get your loan approved and funded so you can take advantage of opportunities as they arise.

Our goal is to help you get your rehab project financed and make the process as simple and straightforward as possible.

We Understand The Housing Market

The housing market is always evolving, and it can be challenging to keep up with the latest trends. Our team of experienced professionals stays abreast of the latest market trends so that we can better serve our clients. In addition, we’ll use our knowledge of Virginia’s real estate market to help you make sound investment decisions.

We’re With You In Every Step Of The Way

We don’t just hand you the money and wish you luck. We’re here to help you every step of the way. It’s our goal to establish and grow a long-term relationship with every one of our clients. We’ll provide the guidance and resources you need to succeed in your real estate investing business.

Learn How To Get Started And Apply Today

If you’re ready to start your next rehab project, we can help. We have the experience and knowledge to get you the financing you need to make your project a success. We have a thorough understanding of Virginia’s housing market and have worked with countless real estate investors in the past, so we can help you navigate the process from start to finish.