Rehab Loans
Whether you’re looking for a Rehab Loan for a house you are in the process of buying or you want to renovate your current home, Hurst Lending & Insurance can help. We offer several different Rehab Loan options:
One Time Closing – Purchase and Home Improvement Loan
Buying a home but want to update your kitchen, bathroom, or even add square footage? We offer a low rate conventional one-time closing purchase and home improvement loan to allow you to purchase a home and make renovations or repairs to turn your purchase into your dream home.
- Finance small renovation projects or even major remodels
- Loan amount is based on the home value after improvements are made
- Competitive conventional 30 year or 15 year fixed rates mortgages
- Up to 95% loan to value (LTV) of the “as-completed” future value*
- Low Monthly Payments – Cost of Improvements spread over life of mortgage
- Available for primary residence, second home, vacation property, or even investment property
This program is also available for second homes and investment property.
Investment Property Purchase with Renovation Loan
Don’t get stuck paying hard money rates and fees. We can offer a low rate conventional loan with rehab options to fund up to 80% loan to value (LTV) of the “as-completed” future value of the investment property. This program is ideal for buy and hold investors who want to lock in low conventional rates for the long haul.
Second Home or Vacation Property Purchase with Renovation Loan
Our one time closing rehab loan is also available for second homes and vacation property where you can finance up to 90% loan to value (LTV) of the “as-completed” future value of the home.
Back Door Cash Out Loan – Using a Rehab Refinance
If you don’t have a lot of equity in your home but still want to make home improvements we can help. In Texas, many people think that you have to have 20% equity in your house to take out cash but this is not the full story. The normal Texas Cash Out rule do not apply when someone is borrowing money for home improvements and renovations. With our program you can refinance and borrow up to up to 95% loan to value (LTV) of the “as-completed” future value of your home.
- Finance small renovation projects or even major remodels
- Loan amount is based on the home value after improvements are made
- Competitive conventional 30 year or 15 year fixed rates mortgages
- Up to 95% loan to value (LTV) of the “as-completed” future value*
- Low Monthly Payments – Cost of Improvements spread over life of mortgage
- Available for primary residence, second home, vacation property, or even investment property.
To get a quote for a Rehab Loan, please click the button below or call us toll free at 877-292-7350. We would love a chance to earn your business and help you save money on your loan.
*Please note that LTV requirements differ for Second/Vacation Homes and Investment property:
- Second Home or Vacation Property Purchase with Renovation Loan: Up to 90% loan to value (LTV) of the “as-completed” future value; and
- Investment Property Purchase with Renovation Loan: Up to 80% loan to value (LTV) of the “as-completed” future value.