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Purchase-Rehabilitation Program |
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Program Highlights · Maximum 50% LTV based on after-repair-value · Minimum after-repair-value must be $50,000 · Interest only with no prepayment penalty · Property must be in the Metro-Detroit area · We only lend on investment properties in neighborhoods with pride of ownership. The property can be distressed but not the neighborhood · Funds can cover purchase price, rehab costs and up to 50% of closing costs. Borrower must have at least 10% of their own funds into the project · Borrower must be able to meet conventional guidelines to refinance prior to balloon payment |
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So you found a distressed property in the Detroit area that you can buy for pennies on the dollar and once repaired, you stand to make a nice profit. Now try to find a lender to finance the purchase and the repairs. That is where Metro Mortgage Investments can help with our Purchase/Rehab program.
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26789 Woodward Ave Suite 107 Huntington Woods MI 48070 |
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Specializing in Metro Detroit Purchase Rehab |
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Metro Mortgage Investments |
