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| TESTIMONIALS |
Thank you Great
Northern Mortgage for the superior handling of my home
mortgage package. My attorney Ike Dibia was also impressed
with your work in creating the best loan possible. I look
forward to any opportunity to recommend your team.
Lissa Luke
Attorney At Law
More Testimonials |
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A Rehab Loan is a short-term loan secured
by real estate and traditionally used until the rehabilitation
of property is complete and permanent financing is put
in place.
Rehab Loan is tailored to the rehabilitation of
properties in need of repair. Rehab loan programs allow investors
and owners to purchase or refinance real estate properties
and include the closing costs, cost of repairs and improvements
in one convenient mortgage.
Rehab loans provide investors, homebuyers and current owners
the best financing method available to improve property condition
and value with one simple transaction. Rehab loans provide
flexibility, leverage and convenience. At Great Northern Mortgage,
we specialize in providing rehab loans for all types of
properties and purposes including residential rehab loans, commercial rehab
loans, and bad credit rehab loans.
Great Northern Mortgage is able to provide funds quickly because
we have access to national and international sources of private
capital. Since these sources use their own private funds, they
are not encumbered by prohibitive regulations, which institutional
lenders must follow.
Please contact us or complete our Application Form if
your loan scenario cannot be adequately handled by traditional
lending sources either due to time constraints, deal
complexity or the transitional nature of the
property.
Rehab Loan Guidelines:
- Property
Types:
- Residential: 1
- 4 Family, investor properties, condo conversions and small apartment buildings
considered on a case by case basis.
-
Commercial: Office
Buildings, Retail Stores, Shopping Centers, Warehouse/Flex Space, 5+ Multi-Family
units and most other income generating properties.
- Up
to 100% Funding - Acquisition, construction, closing
costs (some loans will require at least
5% down payment)
- Loans
up to 70% ARV (After Repair Value)
- Six
(6) to Twelve (12) months loans
- Interest
Rates from 9.9% to 18.9%
- Flexible Payments Plans for qualified borrowers:
- No Payments
- Half-Payments
- Interest Only payments
- Pre-Approvals
within 3-4 days
- Loan
approvals in 24-48 hours
- Fast
closings - within 10-14 days
- "Proof
of Funds" letters available
- No
Prepayment Penalties
- No
limit on the number of properties
- Flexible
draw schedules -renovation funds are usually advanced
in one to three draws and wired directly to your account
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| 17 West 24th Street,
3rd Fl, New York, NY 10010 |
