We offer loans to individuals and businesses for rehab-to-rent projects. The loan criteria and evaluation process for buy-and-hold properties is very similar to flip projects. We lend so that you can improve the property, and therefore increase the appraisal value. You will refinance with a long-term lender, at which time the loan to LPL will be repaid. We want to have a high degree of confidence that the appraised value will be sufficient to allow you to qualify for a loan sufficient to cover the loan amount.
A condition of rehab-to-rent projects is prequalification for a mortgage on the after repair value of the investment property. If you have a project that needs funding, please contact us. The first step is to establish an understanding of the target property, the scope of the renovation, and the exit strategy. After some follow-up analysis, we can typically provide an answer to your funding request within a few days. If you do not have a pending project, but may have a need for financing in the future, we can work with you on pre-approval to speed the process when an opportunity arises.
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