Direct private lender · Washington DC · Maryland · Virginia
RevitaLending - Hard Money and Probate Lender in DC, MD, VA
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Home/Refinance a Stalled Project

Lender Stopped Funding Your Draws? We Consider Stalled and Rescue Projects in DC, MD & VA

If your fix and flip or construction project has stalled because your lender stopped funding draws or won’t extend, or you’re behind or in default with your current lender, RevitaLending will consider refinancing it, case by case. As a private lender, we look at any feasible scenario. Every rescue is different, so final approval is an underwriting call. We’re a direct lender, lending since 2007 with our own private capital, and we make business-purpose loans on non-owner-occupied investment property only in Washington DC, Maryland and Virginia.

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Situations we consider

Stalled Projects We’ll Look At

Rescue situations are hard to fit into a formula, so we look at each one on its own merits.

Draws stopped mid-project

Your draw was inspected but the money hasn’t come, or your lender has stopped answering.

Loan maturing, no extension

The loan comes due before the work or the sale is finished, and your lender won’t extend it in writing.

Behind or in default

You’ve fallen behind on payments or received a default notice from your current lender. We’ll still look at it.

Fix and flip or ground-up

Renovations and new construction that stalled part-way, including jobs where contractors walked off.

Business-purpose loans on non-owner-occupied investment property only. We never lend on a home the borrower lives in or plans to live in. Every loan is subject to underwriting. Not a commitment to lend.

First steps

What to Do This Week

A stalled project costs you every day in interest, insurance and time. The sooner a new lender sees the file, the more options you have.

  • Ask your current lender or servicer for a written payoff statement, including the daily interest and the date it is good through
  • Document the work completed so far: dated photos, paid invoices and any inspection reports
  • Update the budget to finish, line by line if you can, and your timeline
  • Check for liens. Unpaid contractors can file them, and they have to be cleared at closing
  • Review your loan documents with your attorney before you make decisions about payments

General information, not legal advice.

How it works

How a Rescue Refinance Works With Us

1. Send the file

The property, the payoff, the work done, the budget to finish and your exit.

2. We value and inspect

No appraisal on our fix and flip, bridge and new construction loans. We value and inspect the property ourselves.

3. Underwriting decides

Each rescue is reviewed case by case. Final approval and the terms are an underwriting call.

4. Pay off and finish

If approved, our loan pays off the existing lender, and the remaining work is funded through draws, funded 24 to 48 hours after inspection.

5. Exit

Sell the finished property, or refinance into our DSCR rental loan and keep it as a rental. DSCR loans require an appraisal.

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What to Send Us

We consider stalled projects across our lending area: Washington DC (all eight wards); Prince George's, Montgomery, Charles, Anne Arundel and Baltimore counties in Maryland (not Baltimore City); and the City of Alexandria, Arlington County, the City of Fairfax, Fairfax County, the City of Falls Church, Fauquier County, Frederick County, the City of Fredericksburg, Loudoun County, the City of Manassas, the City of Manassas Park, Prince William County and Stafford County in Virginia (not Richmond).

  • The property address and how the project is titled
  • A payoff statement from your existing lender, and any other liens on the property
  • A summary of the work completed so far, with photos
  • The budget and timeline to finish, and your permit status
  • Your general contractor and your exit: sell, or refinance and hold

Related: bridge loans, fix and flip loans, new construction loans, DC new construction loans and where we lend.

FAQ

Stalled Project Refinance Questions

My lender stopped funding draws. Can I refinance a fix and flip or construction project mid-way?
We'll consider it. RevitaLending looks at stalled fix and flip and construction projects in Washington DC, Maryland and Virginia case by case. If the loan is approved, it pays off the existing lender and funds the remaining work through draws. Every rescue is different, so final approval is an underwriting call.
I'm behind on payments or in default with my current lender. Will you still look at my project?
Yes, we'll look at it. Being behind or in default with your current lender doesn't automatically rule you out. We look at the property, the work completed, what it takes to finish and your exit. Investment property only, never owner-occupied, and final approval is an underwriting call.
My loan is maturing and my lender won't extend it. What are my options?
Ask your current lender for a written payoff statement and, if possible, a short written extension while you line up a new loan. Then send us the file. We consider refinancing projects that are maturing before the work or sale is finished, case by case, subject to underwriting.
How much can I borrow to refinance a stalled project?
It depends on the property, the work already done, the budget to finish, the existing payoff and your exit. Rescue situations are hard to fit into a formula, so we don't quote a fixed number up front. Underwriting sets the terms for each file.
Do I need an appraisal or a minimum credit score?
There's no appraisal on our fix and flip, bridge and new construction loans; we value and inspect the property ourselves. There's no minimum FICO on those short-term loans, though credit is still reviewed and every loan is subject to approval.
Who funds the draws on a RevitaLending loan?
We do. RevitaLending is a direct lender, not a broker, and funds loans with our own private capital, so draws don't depend on an outside lender. Draws on our loans are funded 24 to 48 hours after inspection.
How do I find out who is servicing my current loan?
Check your most recent statement and any notice you received, and ask your lender in writing for the servicer's name and a payoff statement. Your title company can also tell you who holds the recorded deed of trust. This is general information, not legal advice.
Where do you consider stalled projects?
Across our lending area: Washington DC (all eight wards); Prince George's, Montgomery, Charles, Anne Arundel and Baltimore counties in Maryland (not Baltimore City); and the City of Alexandria, Arlington County, the City of Fairfax, Fairfax County, the City of Falls Church, Fauquier County, Frederick County, the City of Fredericksburg, Loudoun County, the City of Manassas, the City of Manassas Park, Prince William County and Stafford County in Virginia (not Richmond).

Project stalled?

Send the payoff, the work done and your budget to finish. We’ll review it case by case.

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