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26711 Woodward Ave Suite 301 Huntington Woods MI 48070 |
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Contact Us |
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Specializing in Metro Detroit Purchase Rehab |
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Metro Mortgage Investments |
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Home |
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Lenders |
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Borrowers |
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Brokers |
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Property before repairs |
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Private Mortgage Lending |
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Metro Mortgage Investments is a private money mortgage lender, specializing in financing residential real estate investors who purchase and repair foreclosure, bank-owned and distressed houses in and around the Detroit area. Conventional vs. Private Mortgages Most conventional lenders only provide purchase and/or rate & term refinancing on investment properties that are free of repair and in the case of rate & term refinance also require 12 months of title seasoning. Conventional lenders typically* do not provide cash out or purchase rehabilitation financing on investment properties. *The Federal Housing Administration (FHA), provides purchase/rehab loans on owner occupied properties under the Department of Housing and Urban Development (HUD), section 203(K) program. Benefits of Private Mortgages Our private lenders provide short-term financing to borrowers for the purchase and rehabilitation of distressed 1-4 family income properties. With the expectation that after repairs have been completed the borrower will seek to refinance the property into a conventional mortgage or sell. |
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Property after repairs |