Expand your portfolios with new construction...
Our new construction loan program is suitable for developers or investors building 1 - 5 properties at a time.
This could be scattered lots, infill projects are primarily designed for this loan program.
This could be scattered lots, infill projects are primarily designed for this loan program.
Loan Amount: $250,000 - $2,000,000 I Interest Only I Extension Available I FICO: 650
Construction must begin no more than 90 days of from initial funding
Lot financing can be included if lots are in build-ready condition.
Lot financing can be included if lots are in build-ready condition.
Individual Loan Size: $250,000 - $2,000,000
Exposure Limit Amount: $500,000 - $10,000,000
Interest Accrual: Full accrual on max loan amount
Max Loan -to- Value: 70% of After Completed Value
Max Land Acquisition: 60% if no permits, 75% if permits in hand
Construction Financing: Up to 80% of construction budget
Borrower Type: Individuals and Entities
Eligible Properties: Single Family Residences, Condominiums, Multi-family up to 20 units, Mixed - Use
Minimum Interest: 90 days of interest I Minimum Credit Score Requirement: 620
Valuation: Full appraisal reports on land that require more than $500,000 loan.
Exposure Limit Amount: $500,000 - $10,000,000
Interest Accrual: Full accrual on max loan amount
Max Loan -to- Value: 70% of After Completed Value
Max Land Acquisition: 60% if no permits, 75% if permits in hand
Construction Financing: Up to 80% of construction budget
Borrower Type: Individuals and Entities
Eligible Properties: Single Family Residences, Condominiums, Multi-family up to 20 units, Mixed - Use
Minimum Interest: 90 days of interest I Minimum Credit Score Requirement: 620
Valuation: Full appraisal reports on land that require more than $500,000 loan.
|
Got Approved Engineering Drawing on A Piece of Land? Develop it with our Ground Up Construction Loan....Our Ground Up Construction Loan is available to new and experienced investors.
Requirements:
Cash Reserves Required for New Construction: 25% of Construction Budget |
Ground Up Construction Project
Get Line of Credit up to $10MM
Loans for non-owner occupied residential investment properties
| Drawn balance options available
| Exposure limits up to $10MM for experienced investors
| Loans from $100K to $2MM1
| Rates as low as 9.75%
| Financing for Foreign Nationals and Non-Permanent Residents
| Exposure limits and loans up to $500K for beginner investors
| Funding up to: 90% of purchase price
100% of construction budget
70% LTV
REQUIRED DOCUMENTS
Entity Documents: LLC/LLP
• Copy of Articles of Formation/Incorporation
• Copy of fully executed Operating Agreement/Partnership Agreement (all pages & amendments)
• Certificate of Foreign Qualification (if applicable) Corporation
• Copy of Articles of Formation/Incorporation
• Copy of fully executed Corporate Resolution designating authorized signer(s) for the Corporation
• Copy of fully executed Corporate Bylaws
• Copy of stock certification • Certificate of Foreign Qualification (if applicable)
• Copy of Articles of Formation/Incorporation
• Copy of fully executed Operating Agreement/Partnership Agreement (all pages & amendments)
• Certificate of Foreign Qualification (if applicable) Corporation
• Copy of Articles of Formation/Incorporation
• Copy of fully executed Corporate Resolution designating authorized signer(s) for the Corporation
• Copy of fully executed Corporate Bylaws
• Copy of stock certification • Certificate of Foreign Qualification (if applicable)
