First Rehab Lending

Phone: 631-393-7581

Address: 538 Broadhollow Rd. Melville NY 11747

Email: [email protected]

Website: http://www.frlinvestors.com

States They Lend In: All 50

 

Company Overview: First Rehab Lending is a nationwide, direct private lender based in Melville, NY. We provide short-term commercial loans to experienced speculators, investors and home builders for the acquisition and rehabilitation of 1-4 unit properties. Our interest rates start at 8.99% and we can close our loans in as little as one week. Call us today at 888-276-6565 for more information.

Limited Time Offer From NY Office
First Rehab Lending is offering Fix and Flip loans with financing up to 90% of the purchase price and up to 100% of your rehab costs. We do not require tax returns and our product is not driven by credit score. We lend nationwide on non-owner occupied properties. Our terms are up to 12 months with no prepayment penalty. Rates begin at 8.99%. This program is available to experienced investors ONLY

538 Broadhollow Road
Melville, NY 11747
Direct: (973) 435-0230
Office: (888) 958-1859 Ext 508
Fax: (888) 973-6935
Email: [email protected]
www.frlinvestors.com

Background

 

First Rehab Lending is offering Fix and Flip loans with financing up to 90% of the purchase price and up to 100% of your rehab costs. We do not require tax returns and our product is not driven by credit score. We lend nationwide on non-owner occupied properties. Our terms are up to 12 months with no prepayment penalty. Rates begin at 10.99%. This program is available to experienced investors. Shortly, we will also be offering long term loans for buy and hold Investors at a fixed rate for 30 years.

 

• Loan Amount: Up to 1.25Million
• Term: 12 Months Initial Term
• Interest Only: 8.99%
• Property: Non Owner Occupied 1-4 family
• Loan To Value: 90% LTV Purchase
• Rehab Funds: 100%
• Max After Repair Value: 75% ARV
• No Pre-Payment Penalty

 

FIX & FLIP PROGRAM

 

• LIEN POSITION: First Mortgage Only
• STANDARD TERM: 12 Months
• POINTS: Paid at Closing
• CLOSING COSTS: Paid at Closing

 

REQUIRED DOCUMENTS

 

1. FRL Loan Application
2. FRL Credit Authorization
3. Construction Cost Sheet
4. Appraisal – Credit Card Authorization
5. Copy of valid Soc. Sec. Card & Driver’s License
6. Bank Statements: Most recent 2 months supporting Cash Reserves, Down Payment, & Closing Fee’s.
7. LLC or Partnership: Proof of Publication, Articles of Organization, Operating Agreement, Member Resolution & Percentage of Ownership
8. 1 year proof of Home Owners Insurance

 

INVESTOR LINE OF CREDIT

 

• LIEN POSITION: First Mortgage Only
• STANDARD TERM: 12 Months
• POINTS: Paid at Closing
• CLOSING COSTS: Paid at Closing
• REQUIRED DOCUMENTS

 

1. FRL Loan Application
2. FRL Credit Authorization
3. Divers License and SS Card
4. Bank Statements: Most recent 2 months supporting Cash Reserves, Down Payment, & Closing Fee’s.
5. LLC or Partnership: Proof of Publication, Articles of Organization, Operating Agreement, Member Resolution & Percentage of Ownership
CLOSING Quick and Efficiently