Renovating or rehabbing an existing property is more complicated than building something ground up. Financingsuch projects can be crucial. Getting a traditional loan for such projects can be extremely challenging, sometimes impossible. In such scenarios private lenders can step in and fund rehab loans that are specifically meant for such projects. All California Lending is one of the most dependable and experienced professionals specializing in hard money loans for rehab/ fix and flip transactions, purchases and refinances, land loans, apartment loans and loans for almost all types of property in California.
All California Lending offers rehab loans in California that can be structured in a few different ways. One of the rehab loan structures is funding for the purchase that also funds the rehab and interest payments. On these loans they cap out at 65 to 75% of the after repair value (ARV). Moreover, these loans typically include 4-6 months of interest impounded, so you will have no payments for the first 4-6 months. These loans carry no prepayment penalty, and are typically written for 6-12 months – which can be extended for 24 months.
Apart from this structure the company offers a few other structures for rehab loans in California that include flexibility for you with regards to how you want to do the rehab work and cost. This program is less costly than the more aggressive ARV lending programs. They offer programs that fit your needs well, hence if you are interested in rehabbing a property in California then consider All California Lending.
“Our rehab loans can be structured in a few different ways. One of the most popular structures includes funding for the purchase, plus funds for the rehab and interest payments.On these rehab loans we will cap out at 65-75% of the after repair value (ARV). A builders control account will be set up for the work that needs to be done and draws can be taken as needed to do the rehab. Typically speaking we will require pictures or videos of the work being done throughout the release process. The unique feature of this program is that advances are allowed for work to be done. This is in stark contrast to most fund control on the market where funds are paid in arrears after the work is completed and inspected.”- says a spokesperson at All California Lending.
About the Company:
All California Lending is your source for California hard money loans. We specialize in creative private funding solutions. Whether you are looking for hard money loans for rehab or fix and flip transactions, or any other real estate investment in California, the firm can help you with that.