K.Michael Fishbaugh's Page

100% Purchase and Rehab Private Money.  The rehab loan programs available are intended for real estate investors, of any experience level, to purchase, rehab, and flip their subject property. The rehab loans are available for investment properties only. We are not able to fund rehab money for owner occupied properties. We DO have 100% rehab funding available! This means 100% of your purchase funds, 100% of your rehab funds and 100% of your closing costs! This program is available on a case by case basis and will ultimately be based on the strength of the deal and the borrower (WE DO HAVE LOW SCORE REHAB LOANS).  The Rehab Loan Programs can fund up to 70% of the future value of the subject property (final values based on an appraisal and/or BPO, to be ordered by LENDER.  The rehab loan terms can be from 3 to 36 months in length. Rates will be between 0.75%-1.5% monthly, interest only payments, on the original loan amount(9%-18% annually). Loan amounts from $40,000 to $5,000,000. Points will fall between 6-10 in total and can be included in the funded closing costs. Average points  charged to the borrower are 7. Points are paid at the closing only (on the HUD-1).  LENDER does offer full documentation and stated income REHAB loan programs!  We encourage investors interested in using our rehab funding program to apply BEFORE getting a property under contract. We will pre-approve borrowers for a max spending limit allowing the borrower to shop within their means. Having the borrower pre-approved also allows us to utilize the length of the contract to collect the necessary documentation from the borrower, order appraisal, underwrite and close the transaction. All borrowers applications are analyzed individually and borrowers will be approved for any/all  programs they qualify for. Once the borrower has been issued their approval, they will be given the opportunity to review and ask all questions regarding all of the programs they qualify for with one of our processors or Account Executives.  Borrowers can expect to close their transaction within 7-10 days once they have submitted all documentation necessary to begin final underwriting.  If you have any further questions regarding the Rehab Loan Programs or have any loans that you want to submit please be sure to call me. I look forward to helping you attain the desired funding.  Best Regards,  Phillip Walker  Stone Creek Financial Services  stonecreekfs@yahoo.com  510-575-1709