New Construction
Ground-up Construction Loans are specialized financing solutions designed for real estate investors seeking rapid access to capital for the acquisition and development of a property. This loan program is available for single-family residential properties, townhomes, and 2-4 unit developments.
Who is it for?
This product would be for home builders who are seeking to benefit from competitive interest rates, flexible terms, and quick approval processes. Also for investors who are looking to ensure a true partnership with a lender with a deep understanding of the real estate market and comprehends the unique challenges investors encounter when securing financing. If this sounds like you then you need not look any further. We will collaborate with you to grasp your project's objectives and create a tailored lending solution to meet your specific requirements.
If you identify with any of the investor profiles mentioned above, we encourage you to submit your pre-approval application today, and our team will promptly reach out to you to discuss your financing needs.
| Rates & Terms | |
|---|---|
| Loan Amount | Up to 75% of Loan to Cost (Improved Land + Construction). |
| Origination Fee (Points) | 0% to 5% of loan amount (payable at closing). |
| Interest Rate | 9.99% to 15.99% interest-only monthly payments. |
| Pre-Payment Penalty | None after 90 days. 1% if prior to 90 days. |
| Term | 6-18 months (1% fee per 3-month extension). |
| Time to Fund | 7 to 11 business days |
| Credit | 400 and above Credit Accepted |
| Qualifications & Requirements |
|---|
| 400+ Credit. Scores below 620 will require a min 35% down payment (or equity) in property and no open bankrupty. No history of recent foreclosure |
| Liquid Reserves are not required but borrower will get the best rate and terms with liquid reserves |
| No Income required |
| Completed Loan Application |
| $499 Processing Fee |
| No Appraisal required. We do an internal property valuation |
| Personal Guarantee is required |
| Loans can be made on Investment or business properties only. We do not finance primary residences |