ProActive Lending Group, LLC Launches “Fix and Flip” Program That Offers Easy Rehab Loans
ProActive Commercial Lending Group, LLC, a reputed private mortgage lending company, has recently launched their new “Fix and Flip” program designed to promote real estate investment in South Texas. The program offers easy rehab loans to investors for funding and renovating real estate properties in the area, which for some time have remained incredibly affordable compared to other property markets, and sell them at profitable prices. Offered by the top lenders in the nation, with whom the lending company maintains close partnerships, the process for borrowing the loans have been streamlined so that borrowers can have quick access to capital to seize investment opportunities while prices are in their favor.
With the best interest of investors in mind, the “Fix and Flip” program’s Texas rehab loans feature multiple advantages. The loan amount can be used to fund both the price of the property and the necessary renovation. This saves investors from the trouble of having to apply for, and pay down two separate loans for the completion of an investment project. The luxury to fund both the property and renovation cost with one loan makes working out their finances more manageable.
Interest rates of the rehab loans range from 9.9% to 12% depending on certain factors which are on the lower side compared to current market prices. The program also includes interest-only mortgages which gives the borrower the provision to pay only the interest amounts till a date assigned by the lender. Loan terms range from 6 to 12 months but can be extended upon request. The loan-to-value of the rehab loans are set at up to 80% after including repair value (purchase price + renovations budget combined) which is favorable for borrowers. If borrowers manage to work out their finances sooner than the terms of their loan, they have the option to pre-maturely pay off the amount without incurring prepayment penalties.
During the launch, the company’s founder Bruce Myles said, “South Texas has one of the hottest and most stable real estate markets in the country, and thousands of commercial real estate investors are looking for loans to turn those opportunities into profit. Banks cannot really help the investors with all their credit regulations and restrictions. And this is where ProActive steps in. We are able to say “Yes!” when the banks say “No.”
About ProActive Commercial Lending Group, LLC: ProActive Commercial Lending Group, LLC, is a private lending institute founded by Bruce Myles in 2003. Since its inception, the group has been offering services that connect small to medium businesses and investors with private lenders to meet their financial needs.
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ProActive Lending Group, LLC.
+1 877-251-4598
bmyles@proactivelendinggroup.com
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