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HRM Investor Rehabilitation Loan Program


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Now investors can purchase a distressed property, bank-owned, foreclosure or short sales home and roll the repairs into the mortgage. If you currently own a rental property and it is in need of repairs or a total rehab, then look no further. The new HRM Investor Rehab Loan Program is designed to help the overall cash outlay that investors would have to invest to bring the property to a habitable condition for their future tenants.

This single-close loan provides funds to purchase plus the funds to complete major or minor renovations with one loan and one loan closing. Loans are based on after-improved value determined by appraisal.

The HRM Renovation loan can be used for virtually any type of renovation improvement. The only renovation requirement that must be met is as follows:

  • Improvements must be permanently affixed to the property.
  • Improvements must add value to the property.

The program’s features include:

  • 20% down payment
  • No Limit on repair amounts*
  • Fees for up 5 draws are included
  • Single-Family Homes
  • 30 & 15 year fixed mortgage
  • No prepayment penalty
  • The cost consultant fee may be rolled into the loan
  • Mortgage payments may be included if the property is not habitable

Examples of renovations that qualify

  • New Roof
  • Structural repairs (Including Foundations)
  • Remodel kitchens and baths
  • Room addition
  • New HVAC
  • New Appliances
  • Replacement of windows
  • Energy conservation improvements
  • Upgrades to electrical or plumbing
  • New carpet and paint
  • Landscaping improvements
  • Installation of hardwood

*Cost of rehabilitation must be at least $5,000. The cost of the renovations is limited to 50% of the “as completed” appraised value of the property.

The length of the rehabilitation period will be no longer than six (6) months.

Limited to four loans per borrower.


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