Finding a property below market value is only half the battle; funding the renovations to bring it up to standard is the true challenge. Our rehab loans provide the capital to purchase a distressed property and fully fund the renovations.
We base our loan on the After Repair Value (ARV), allowing you to borrow more than the property is currently worth. We hold the rehab funds in escrow and release them as you improve the property, ensuring you never run out of capital mid-project.
No, rehab funds are held in escrow and released in draws as phases of work are completed.
We use third-party inspectors to quickly verify that the work outlined in your draw request has been completed.
If you are a licensed contractor or have significant proven experience, yes. Otherwise, we prefer you hire licensed GCs.
The loan amount is fixed at closing. Any budget overages must be covered out of pocket.
Yes, 'rehab loan' is often used interchangeably with 'fix and flip loan'.
Fidelity Funding Corp · Direct California private money lender since 2006
450 N Brand Blvd, 6th Floor · Glendale, CA 91203 · Mon-Fri 8AM-6PM PT