Our rehab loan programs are perfect for both real estate investors and property owners looking to renovate their home. UMWSB offers both refinance and purchase loan programs for rehab properties, giving you the ability to not only purchase an investment property, but finance the necessary renovations as well.
United Midwest Savings Bank will finance up to 80% of the “Subject-To” value of the home. The funds needed to clear title will be disbursed at closing, along with 10% of the Contracted Rehab amount. The remaining funds are held in escrow by UMWSB, to be released on a draw schedule that is dependent on the loan amount. Each draw will be released following a property inspection to verify progress on the project.
To find out more about our Rehab Loan Programs, Contact a Wholesale Lending Specialist Today!
80% LTV Purchase or Refinance
660 Minimum Credit Score
LTV Based on "Subject to Value"
Purchase and Rehab Funds Included
Owner Occupied or Investment
Full Doc
Construction Loans
Contact a Wholesale Lending Specialist for more information regarding our rehab loan programs.
