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New Construction Financing

1 to 10 residential units, townhomes, townhouse style condos with 700+ square feet of gross livable area per unit on less than 2 acres 

Loan purpose: (1) purchase a vacant lot and build; (2) purchase a lot with a tear-down and rebuild, or (3) refinance a lot already owned & ready to build.

Spec builds and model homes

Non-recourse available for 25 to 50 bps

$500,000 to $5 Million per project

Finance 90% of purchase price/refinance payoff plus construction costs up to 75% of ARV

Rates as low as 6.99% interest only

Experienced borrowers only pay interest on funds drawn

Term: 13, 19 or 24 months 

No prepayment penalty or minimum interest

Fast draw approvals

In-house construction management and servicing

Streamlined underwriting and fast funding in 3 to 6 weeks

No upfront fees, tax returns or income verification

  1. Nationwide (Urban, Suburban and rural)
  2. 660+ middle FICO credit score
  3. Origination varies with construction experience in last 3 years
  4. Experience last 3 yrs: Tier 1 and 2: ineligible; Tier 3: 5-11; Tier 4: 12-23; Tier 5: 24+
  5. Lots should be fully entitled and ready to build within 90 days of funding. Lot does not need to be permitted at time of close (appropriate permits must be provided before first draw is requested)
  6. Lots must already be split and individually parcelled
  7. Water/sewer/well/septic must be lateral ready
  8. Can add experienced partner as co-borrower who owns 1%+ of LLC/Corporation 
  9. No subordinate debt permitted
  10. No bankruptcy, foreclosure, short-sales or deed in lieu in past 3 years
  11. Foreign nationals and permanent residents eligible @70% LTC up to 60% ARV
  12. Funding in 3 to 6 weeks LO

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

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