1,300 SQ FT Single Family Home – Rehab Loan

Rehab loan alabama

Property Location: Birmingham, AL

Property: Value: 80,000

Loan Amount: $35,000

Interest Rate: 12%

Term: 2 Years

The borrower purchased and started renovation out of pocket. After being worked over by another lender, we were able to offer a rehab loan to help them finish the renovation. They plan to rent this home out, so we gave them a 2 year term for proper seasoning.