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Purchase-Rehabilitation Program |
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Loan Limits Our maximum loan amount is $100,000. Until a relationship is established we will lend on one property at a time with a maximum of 3 properties . Our maximum loan-to-value ratio is 50% of the after-repair-value. The loan amount can cover the purchase price and the rehab costs but the borrower must pay 10% of the loan amount towards closing costs. Closing costs must be paid by the borrower with a maximum of 50% covered by seller concessions or financed. |
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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.
How Much We Will Lend |
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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 |
