Hard Money Loans for Real Estate Rehab
Hard money loans for real estate rehab allow you to quickly secure distressed real estate, finance the repairs, and get the property back on the market much faster than any other type of property loan or mortgage.
Hard money loans are typically used in house-flipping rehab projects. The funds are used to secure damaged or distressed real estate properties, finance necessary renovations, and quickly resell them at a profit. Therefore, this type of real estate financing is also commonly referred to as house-flipping or fix and flip loans.
Handyman Special Financing
If you’re looking for handyman special financing, then chances are you’re in the market for an a hard money loan with after repair value (ARV) loan terms. It represents the estimated or appraised value of a distressed property after the proposed repairs are complete. Hard money lenders typically lend 65-75% of the calculated after repair value. In order to determine this value, a ‘Subject to Repairs’ appraisal is required. The term, after repair value loans, is simply another way of saying hard money loans for distressed real estate rehab.
Fix and flip handyman special loans are typically short-term, asset-based loans most often secured by distressed or damaged real estate properties. Their hard money terms are typically short, with an average term of 6-12 months. They are typically issued by private investors or companies, are interest-only, and are not regulated like conventional mortgages, bank lenders, or credit unions.