Friendly Rehab Funds is one of Virginia’s most experienced direct hard money lenders with over 15 years of hard money lending experience. We provide hard money loans in The Greater Richmond Area, Fredericksburg, Charlottesville, Virginia Beach and Williamsburg for real estate investors and property owners through asset-based lending for various real estate projects and transactions including single-family residential, multi-family residential and commercial.

Our clients rely on Friendly Rehab Funds for fast approvals and funding, competitive rates and fees, flexible lending criteria and excellent service. Hard money loans for investment property can be funded within 5 days. We provide both 1st and 2nd hard money loans and lend to numerous types of borrowers including individuals, entities (LLCs, partnerships, corporations), trusts and estates. Contact Friendly Rehab Funds for a free consultation.



Our operating philosophy is simple: if we can make your deal work, we will. We do NOT have a “one-size fits-all” mentality; we think outside the box. Most of our business is from prior customers. They like doing business with us because our process is easy, our service is friendly and our terms are competitive.

Because our loans are “NO DOC” to “Lite Doc” it’s VERY easy to get funding to close on your next project. We work with our customers to provide loans quickly and with minimal effort on their part. We commonly approve a loan within 24 business hours of the investors request.

Complete our quick and easy online loan application, click the send button and we’ll get back to you within 24 business hours. 

  1. Send us a copy of the ratified purchase agreement along with an estimate of repair costs.
  2.  We’ll appraise the property and send you a funding proposal within 24 business hours.
  3. Lender’s visit to the property is done within 72 business hours.
  4. Closing

Loans are typically approved within 24 business hours of receiving a copy of the ratified purchase agreement and renovation estimate.

We typically loan 65 to 70% of a property’s after-repair value. The following is an example of how our program works:

Purchase and Renovation Costs

$  165,000   Property purchase price

$  55,000  Rehab work needed

$220,000 Total needed for project

$295,000 Estimated After-Repair Value (ARV)

         65% Loan amount

$  -192,500 Total loan to borrower

$28,000 Down Payment 

A common way to minimize, or eliminate, cash needed to close is to use another owned property that is owned free and clear, as additional collateral. 

Assuming the loan goes to closing, aside from interest costs, there are NO LENDER FEES in getting a loan. Please see below for further details.

    • Property Appraisal Fee. NO CHARGE
    • Initial Inspection NO CHARGE
    • Credit Report Fee: NO CHARGE
    • Draw Inspection Fee: NO CHARGE (in almost all cases)
    • Earnest Money Loan Deposit: Once we have issued you a Loan Proposal we ask for a “good faith” loan deposit of up to $895.00 (this is in consideration of our reserving monies to close your deal). This deposit is FULLY REFUNDED to borrower at closing.

Interest rates and points charged depend on the type of loan, the loan term, the borrower, and the size of the loan. They typically range 1.50% to 1.82% / monthly.

Example: $100,000 Loan at 1.67% would cost $1,670 / month in lender fees.

We commonly schedule a property draw visit within 3 business days of receiving a draw request. There are many instances where we will process a draw based on pictures of completed work that are sent to us by the investor.

We do all we can to help an investor’s cash flow. To do so, we commonly defer interest payments from 3-6 months on a given deal.  Once payments start, we typically collect partial interest of 1% of the loan amount with accrued interest collected at payoff.

Example: $135,000 loan payment

  • No payments for the first 5 months
  • Starting on month 6, payments of $1,350.00 (1% of $135,000 loan amount).

Our loan terms are generally for 9 months. We commonly provide a 3-month loan extension upon by the investor. 

Yes, our loans are payable monthly, interest only.

We typically loan on single-family and multi-family properties.

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