California Rehab Lending
Incredible real estate investments are now taking place all over Southern California. Financing, however, doesn't come easy unless you're working with The Norris Group which specializes rehab loans for investors. We've been funding investor purchases since 1997.
Rehab lending has never been more important for California investors. The Norris Group has the money and ability to fund your deals quickly. We also have the ability to do non recourse loans for investors looking to leverage their self-directed IRA accounts to buy real estate in their IRA.
The bottom line, The Norris Group is one of the few rehab lenders willing and able to fund your REOs, short sales, and trustee sale refinances. We base our rehab loans on after repair value and look more at your liquidity and deal rather than your credit history. We've been in the market has a rehab lender and real estate investment firm since 1997.
California Rehab Loans
We close hundreds of rehab hard money loans every year. The Norris Group wants to be your rehab lender of choice. We provide our investors with award-winning resources and education via our real estate radio show and podcast as well as our weekly news blog. We're keeping an eye on the market. From legislation, regulation, to ongoing market shifts, we're keeping our network informed.
Our rehab loans cater to the California real estate investor purchasing single family homes in Los Angeles, Orange, San Diego, Riverside, and San Bernardino counties.
We offer two unique rehab loans for investors: short term fix-and-flip program and our long-term buy-and-hold program.
California Hard Money Terms
| Download Rate Sheet |
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| Rehabber/ Flipper |
Refinance Rental |
Rental Purchase | Build to Flip |
Build to Hold |
|
|
Term of Loan:
|
1 Year | 8 Year | 8 Year | 1 Year | 8 Year |
|
Interest Rate:
|
12.5%* | 9.9% | 12.5%* to 9.9% |
12.9%* | 12.9%* to 9.9% |
|
Prepayment Penalty:
|
NONE | 2 Year | 2 Year | NONE | 2 Year |
|
Loan to Value:
|
65% ARV MAX |
65% LTV MAX |
65% ARV MAX |
65% LTV MAX |
65% LTV MAX |
| Points:** | 3.5 Pts Reduced Points for loans over $285,000 |
3.5 Pts (mininum $2,500) |
3.5 Pts (mininum $2,500) |
3.5 Pts (mininum $2,500) |
3.5 Pts (mininum $2,500) |
| Misc. Fees: | $1,095 | $1,095 | $1,095 | $1,095 | $1,095 |
| Appraisal Fee: | $375 | $375 | $375 | $375 | $375 |
| Modification Fee: | N/A | N/A | $500 | N/A | $500 |
| Building Inspections: | N/A | N/A | N/A |
4 x $200 | 4 x $200 |
| Entities: | OK | OK | OK | OK | OK |
| IRA Loans: | OK | OK | OK | OK | OK |
| Learn More |
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* 0.4% additional interest if investor is not opted in for direct deposit.
** Minimum $2,500 fee for orgination on all loans.
Discounted points apply only to Rehabber Loan.
All loan programs subject to change.
To get your rehab loan started, or even if you're only looking for a letter of credir, fill out a loan application on our website and we'll set up a meeting as soon as we get all of your information.
