Commonly called the BRRR Method, Northwest Private Lending’s Rehab & Refinance program allows the borrower to purchase distressed properties, make improvements, and ultimately refinance after finding tenants for rentals. We offer up to 80% of the borrowers’ purchase price. Once you have fixed up the property and have it rented out, we can work with you to get a long-term, low rate 30-year fixed mortgage.
Loan Origination Fee: 3 Points (min. $2,500)
Loan Document Fee: $650
Monthly Interest Rate: 1% per month
Monthly Payment: Interest Only
Loan Amount Range: $50,000 up to $2,000,000
Closing Costs: Paid by Borrower
Loan Closing: 3-5 Business Days
Loan Maturity: 1 month to 10 years
Property Appraisal: Not Required
Underwriting Fee: None
Pre-Payment Penalty: Never
Extension Fee: $0 on performing loans
Christine owned a flooring & cabinet company in Washington and had worked for 20-years helping other people renovate properties. They first begin flipping homes to add to their annual income, but after a few flips were able to keep and rent out homes they completed. They have moved from making quick profits to building long-term wealth.