Special Contractors Rehab Loan Program
FBC Funding has a special contractors rehab loan program. We honor and respect your experience as a licensed general contractor. To reward and count your experience FBC Funding offers lower down payment and lower rates on our fix and flip programs for license general contractors. This is how our special program works.
Contractors Rehab Loan Program Requirements
To the qualification requirements are simple for this program. You simply must be a licensed General Contractor and have a minimum credit score of only 620. If you meet these two general requirements you are eligible for the Contractors rehab loan program. The benefits are outlined below.
Contractors Rehab Loan Program Benefits
Lower Down Payment: The down payment is based on experience. Usually a borrower with no experience in buying and rehabbing a property in their name or the name of their business is required to put 20% down payment of the purchase price with 100% of the renovation cost covered. They may have the option to choose to pay 15% of the entire project as a down payment. The 15% option requires 15% of the purchase price and 15% of the rehab costs. For the licensed General Contractor with no fix and flips completed in their name our special contractors rehab loan program will only require 15% of the purchase price as a down payment. In addition, if the licensed general contractor has a credit score of at least 700 the down payment is reduced to 10% of the purchase price.
Lower Rate: For licensed general contractors we will lower the rate to 8.5%. (Like all mortgage programs, rates are subject to change without notice) These are the rates today May 2021. Therefore FBC Funding will give licensed general contractors lower down payment and lower rates on the Contractors Rehab Loan Program.
There are also other benefits working with FBC Funding including our:
- Programs (for licensed general contractors the Contractors Rehab Loan Program may not be the best option)
- Referral Program (Get paid to refer clients for funding) Learn More Here
For more information on this and other Commercial Funding Programs offered by FBC Funding
- you can call today at 888-848-3114
- you can click here to schedule a phone loan consultation meeting
- you can email us at email@example.com
With over 30 years of helping Real Estate Investors meet their financial goals, FBC Funding is has the experience, programs and service first attitude to help you.
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