Mortgage Loan

How Do You Do Draw Request Get the job done In A Really hard Revenue Mortgage?

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  1. If the acquisition and rehab cost is equal to 65-70% ARV and the HMPL is for 70-85% ARV (median HM purchase loan funding in So.Cal) how cannot not use disbursed funds to cover stages of construction.. if that makes sense. Like like the ARV for instance is 100k and I get property under contract for 55k. The Hml is up to 75% (75,000).. that would cover all cost and then some.. I’ve been confused now🤷🏾‍♂️ I guess what I’m asking is .. will there be two separate HML for purchase and rehab or how can I get one loan to cover Purchase And Rehab. Sorry

  2. Can you wait until all the work (paying for all the rehab upfront)is done and just do one draw?


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