First Rehab Lending extended a Million Dollar Line Of Credit to the investor of this property, an REO specialist
and now flips houses on his own. This property, a 5 bedroom single family residence in Houston, Texas, was
purchased with 90% financing of the $287,000 purchase price plus 100% of the $100,000 rehab funds, at a
9.99% interest rate. The term is flexible at 12-24 months with no pre-payment penalty; this deal closed within
days . With our new programs, this borrower can choose to flip the house or he is eligible to maintain the
property and transfer into an extended Rental Loan Program.
“Thank you for the seamless process; the Line of Credit has opened the doors to expanding my portfolio”.
Property: Single-family home
Purpose: Fix & Flip
Loan Amount: $287,000.00
Location: Houston, TX
Date Funded: June 2018
Broker Fee: $3,600
First Rehab Lending
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