Change Area Sign In Register
Home Community Services For Sale Vehicles Real Estate Jobs
    Post Classified 

Rehab Investor Loans - Baltimore Metro Area

Posted By:
T Guy Cook
Posting ID:
White Marsh, Md
 hard   money   private   financing   rehab   loans   investor 
Service Category:Real Estate
Business Name:Advance America Property & Finance, Llc
39 Cliffwood Rd
Baltimore, MD 21206

 Facebook  Twitter  MySpace
Bookmark and Share
Advance America Property
39 Cliffwood Road
Baltimore, MD 21206
(410) 661-8300

RehabMax Loan Terms

100% Purchase/Rehab. Loan Program Financing

Your Total Loan amount approval can be BASED on 100% of the Sales price and 100% of the Total Renovation Costs OR Up to a Max of 65% of the ARV (After Repaired Value) of the property, whichever is less. In Baltimore City for deals under $75k, LTV may be reduced to 55%-60%.

Please note: that in these unusual economic times, almost all deals may require a minimum amount of money coming from you the borrower into the deal. How much depends on the deal itself and is case by case, but it is good idea to assume at least 10% or 15% minimum in most cases to cover normal costs associated with closing for down payment and settlement.

The Seller is allowed to contribute any amount of the sales price towards closing cost assistance, we strongly urge you to negotiate a Seller concession into your contract offer to keep your upfront fee's to a minimum. It is also a good idea on every offer to ask if the seller can hold a second mortgage for part of the purchase price as well usually 10% to 20% may be a good way to get a deal with no money down or to reduce the amount money you may need for closing. Contact your loan specialist before entering into a contract for details and specific help in constructing the best options for your deal

The Repair funds of the loan go into a repair escrow account. The escrowed repair funds are paid to the Borrower/Rehabber contractor on a reimbursement basis in the form of "Draws" upon completion. That is, you or the contractor performs repairs, pay for materials and labor and then request a draw for repayment. .

All of our Loans are NO DOC or Lite Doc

We do NOT have a one size fits all mentality,
we think outside the box, if we can make your deal work, we will.

There are NO PRE-PAYMENT Penalties for Any Loan we offer!

Most loans are Interest Only Loans based on a 12 month period or up to 20 year fully amortized loan payment.

Interest rates are normally 1.25%-1.50% per month, depending on credit score and type of loan you requested.
Points range are from 4.00% to 10.00% with an average of 5% depending on the type of loan product selected, loan term and loan size.

Turnaround time on loan requests for funding is usually 48-72 hours after inspection.

Once you have a contract submitted to us for processing, normally a $475.00 fee may be required for a Lenders Property Evaluation Inspection report, but not always, and is based on a case by case basis and type of loan product you are requesting or qualify for.
A credit for these fees will be shown on your final settlement statement at closing.

Borrowers are NOT permitted to live in the property. These loans are for Investment & Commercial Properties and or for business use purposes only. The property must be purchased for the sole purpose of renovating and resale or to refinance to retain for Rental Property Income purposes.

The advantages to you, the Rehab Real Estate Investor, is obvious. With a "RehabMax Loan", you can purchase a property quickly and easily that may not have qualified for traditional type mortgage financing with limited out of pocket expense and with No Income/Asset Documentation requirements.

One Final thing, we also offer NO DOC & No Income Verification Hard Money loans for Small to Mid sized balance Commercial Loans as well, we love refinances.

Types of projects we finance include: Commercial Office Building or Mixed Use/Store Front, Apartment Buildings, Store Front, Dry Cleaner, Gas Stations, Strip Shopping Centers, Rooming Houses, Mobile Home Parks, Bar/Restaurant, etc.

For Loan application and further details visti:


Good Luck & Good Investing!

T. Guy Cook, CRMS

Contact Poster
* Your Email:
* Message:
* = Required information.

Related Posts

  Areas Safety Tips Tell A Friend Link Us Contact Us  

© 2016 - All Rights Reserved.