Rehab Loan Group
3585 Main Ave, Suite 208
Riverside, CA 92501
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About Rehab Loan Group
Rehab Loan Group is a Riverside, CA based private money lender offering funding in Southern California. They provide loans for many different situations and needs, including bridge loans and short term fix and flip loans. They issue terms between 3 months and 4 months and loans with a maximum LTV of 80%. Their loan parameters do not include a minimum credit rating. The focus of their loans is on single family homes and multi-family.
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Loan Types Offered: Fix and Flip Loans, Bridge Loans
Property Types Covered: Single Family, Multi Family
Areas Served: Southern California
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Lending Guidelines for Rehab Loan Group
Below are the general loan guidelines published on the Rehab Loan Group website. Please confirm all terms and rates directly with the lender.
Fix and Flip Loans
Loan Amounts: N/A
Available Rates: N/A
Typical Terms: 3 months - 4 months
Points Charged: 8%
Max Loan-to-Value (LTV): 80%
Max Loan-to-Cost (LTC): N/A
Owner Occupied Allowed: NO
Interest Only Loans: YES
Prepayment Penalties: NO
Minimum FICO Score: NO
Time to Close: N/ABridge Loans
Loan Amounts: N/A
Available Rates: N/A
Typical Terms: 3 months - 4 months
Points Charged: 8%
Max Loan-to-Value (LTV): 80%
Max Loan-to-Cost (LTC): N/A
Owner Occupied Allowed: NO
Interest Only Loans: YES
Prepayment Penalties: NO
Minimum FICO Score: NO
Time to Close: N/A -
Loan Examples
The following loans are for education purposes only. They do not represent actual loans executed by Rehab Loan Group.
Loan Example 1
Rehab Loan Group issues a fix and flip loan to Natalie for a remodeling project in Acton, CA, on a property that costs $290,000. The terms of the deal include a 80% loan-to-value (LTV), so she must contribute 20% of the price as cash at closing, which makes the principle note amount $232,000. The parameters of the note also stipulate a four percent origination fee that is to be paid at the closing and a 18 month, interest-only note with a 12% rate of interest.
Natalie will have to fund a total of $32,400 upon closing to pay the $58,000 down payment in addition to the $9,280 origination fee. The monthly interest-only payments will then be $2,320 to Rehab Loan Group. If Natalie meets her goal of a $377,000 total sales price at the end of the loan term, she would earn a gross profit of $35,960 after repaying the principle on the note and subtracting the cash she paid at closing, the origination fee, and the total interest payments.
Loan Example 2
Janette locates a property in Acton, CA to remodel and re-sell. Since she does not have enough cash to buy the property outright, she takes a fix and flip loan from Rehab Loan Group with the following parameters:
a) A $240,000 sales price, b) a 75% loan-to-value (LTV), c) a 6 month term, d) a 13% interest rate, and e) a 1% origination fee.
Janette intends to sell the house at the end of the term for $360,000. If she achieves this goal, the final numbers will be as follows:
$360,000 sales price
- $180,000 principle on note (75% LTV)
- $60,000 cash paid at closing (25% on 75% LTV)
- $1,800 origination points (1% of the $180,000 principle amount)
- $11,700 total interest paid (6 months x 13% interest)
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= $106,500 gross profit (does not include taxes or rehab costs) -
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