Residential Construction Financing to 20 units
Finance 100% of construction and 70% purchase to 70% of ARV
Most lenders don’t offer 100% financing.
No down payment
More cash in your pocket!
Tax returns and income verification required (no tax return or income verification financing available)
First time investors welcome!
No appraisal option: (1) metropolitan areas; (2) $300,000 to $750,000; (3) 725+ credit; (4) 3 completed projects last 3 years; 2 for repeat borrowers; (5) no appraisal with 12 months bank statements and 4506C to verify taxes filed or on extension
Competitive Interest Rates
Reliable funding closing in 2 to 3 weeks
Nationwide except: AK, AR, AZ, CA, HI, ID, ND, NE, NV, OK, SD, VT, and WY
Term: 8, 12 or 18 months
$250,000 to $2.5 Million per property
620+ credit (can use co-borrower/guarantor if credit below 620)
9.25%+ on drawn balance
Interest only
No prepayment penalty
Credit score: (1) finance 70% of ARV with 700+ credit and one completed construction project in last 3 years; (2) 65% of ARV with 660 to 699 credit with or without experience; (3) 60% of ARV with 620 to 659 credit with or without experience
Points: 2 to 4
Must use experienced General Contractor if built less than 3 projects in last 3 years
First time borrowers may rehab 2 projects at a time; repeat borrowers: 10+ projects at a time
Liquidity required: 8%+ of loan amount + 6 months interest + loan costs
Principal residence within 60 miles of subject property
One-time $250 application fee
Draws: (1) work inspected by approved inspector; (2) funds released 1st business day after we receive inspector’s report
Closing costs paid at closing
First mortgage
Close in LLC or Corporation name
No bankruptcy last 3 years
Positive mortgage payment history
Recourse
Required docs: (1) 2 years personal & business tax returns; (2) 3+ months most recent personal & business bank statements; (3) 2 most recent paystubs (if applicable); (4) driver’s license; (5) purchase agreement; (6) detailed rehab budget; (7) “As is” & “After-Repair” appraisal
Must sell or refinance to pay off loan
Legal USA resident
Proof of funds letter available
To submit your online loan request, click GET STARTED for PRE APPROVAL within 48 business hours. No upfront fees, credit cards, Social Security Numbers or credit checks are required for PRE-APPROVAL.
