Rehab to Perm Loans for Your Rental Portfolio

Combination Loan Program

Noble’s Joe the Investor loan program is a two-step loan process utilized by investors to buy distressed residential real estate in need of repairs for long term rentals. It provides up to 100% of the purchase price, repair money and closing costs. After the property is repaired and leased, Noble assists in arranging a long-term traditional mortgage. The loan amount is based on the after-repaired-value of the property.

Typically, a combination loan is used to acquire residential property that conventional lenders will not consider due to the condition. These loans typically close in 10 business days, and the investor must qualify for conventional financing.

Property Types  1-4 single-family properties
Market   Houston, Austin, San Antonio and Dallas/Fort Worth, Texas
Loan Amounts $50K-$400K (Minimum $100K outside of Houston)
Term      6 months
Amortization  Interest-Only
Rate   12%
Fees   3% (can be rolled into loan if LTV allows)
LTV     Up to 75% of the “after-repaired” value
LTC    Up to 100%
Qualifying Must be able to qualify for conventional financing
Recourse Yes

Joe the Investor Combo Loan FAQ

A two loan process utilized by investors to buy distressed real estate, repair, lease and hold as long term rental properties.  The loan amount is based on the after-repaired-value of the property.

Most investors use hard money for its speed, convenience, leverage and to finance properties that conventional lenders will not.  Hard money loans typically close in 10 business days and can fund up to 100% of both the purchase price and repair funds.

Use the side bar to fill out the “How can we help you?” form; select the option “Information on your programs and get pre-qualified.” An email will be sent to you with the application as well as a list of items needed to get pre-qualified.