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Ground-up/tear down and mid-construction loans to build homes, duplexes, triplex, quads, condos, mixed-use and multifamily

For experienced builders and investors on title within last 3 years on title

No tract homes or new subdivisions with 10+ homes

Lot must be entitled and shovel ready

No upfront fees, tax returns or income verification

Funding in 4 to 6 weeks


Urban and suburban (population 25,000+); LTC reduced 10% for vacation areas around beaches, lakes or mountains not near larger cities with industries besides tourism.

$500,000 to $1.5 Million per property

Term: 12 or 18 months 

Competitive fixed interest rates on drawn balance

interest only

Minimum interest: 180 days 

Origination: varies with experience  

Experience required: completed projects on title, bought & sold/refinanced last 3 years

(1) 1 construction project 

(2) 1 fix-to-flip qualifies for 1 loan to $750,000 @80% LTC / to 65% ARV

(3) 2 to 4 construction projects: 2X experience with 5% LTC reduction for additional properties up to 5 loans. Example:
1 experience = 2 outstanding loans (2nd at 5% LTC reduction)
2 experience = 4 outstanding loans (3rd at 5% LTC reduction & 4th at 10% LTC reduction)

(4) SFRs: 80% LTC to 70% ARV (max loan lesser of total costs x LTC % OR ARV x LTV %

(5) 2+ units or mixed-use: 1 loan

(6) Finance lot + hard & soft construction costs; Lot cost:

• Acquired < 12 months: lesser of purchase price or as-is lot value
• Acquired ≥ 12 months: as-is lot value

Mid-construction requirements:

  • Refinance loans on lot and A&D in good standing
  • Borrower was owned property when construction commenced
  • Construction must begin within 180 days of application
  • Completed improvements inspected before initial disbursement.
  • Must finance remaining construction budget
  • Lien waivers and title coverage for completed construction

No subordinate debt 

Liquidity: down payment + closing costs + 10% of holdback + equity shortage + reserves:
1-2 experience: 12 months reserves
3-4 experience: 6 months reserves
5+ experience: 3 months reserves

Liquidity verified by most recent checking, savings, CD, money market, stock, or annuity/IRA statements

Interest reserve: 6 months

No bankruptcy, foreclosure, short-sales or deed in lieu in past 3 years

Insurance requirements:

(1) Builder’s risk: 100% replacement and financed soft costs 
• Co-insurance permitted
• Required when construction begins (may be the first draw)
(2) Commercial general liability: $500,000+ per occurrence may be added to builder/GC’s policy
(3) Flood Insurance (if applicable):
•Coverage under National Flood Insurance Program (NFIP)
• Required when construction begins (may be the first draw)
(4) Condo Insurance (if applicable): on master policy with 100% replacement and contents coverage

Foreign nationals or borrowers with no FICO credit score @80% LTC to 65% ARV

To submit your online loan request, please click the blue New Construction Link for your PRE-APPROVAL Term Sheet within 48 business hours. No upfront fees, tax returns, income verification, credit cards, Social Security Numbers or credit checks are required for PRE-APPROVAL.

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