Eagle Commercial Funding Makes Residential (1 to 9 unit) Ground Up Construction Loans Easy For Experienced Builders and Investors
Non-owner occupied single family homes, duplexes, triplexes, quads, condos and townhomes.
No upfront fees, tax returns or income verification
Nationwide in 44 US States in urban and suburban locations
Rates start at 10.25% on drawn balance, interest only with no prepayment or minimum interest
Interest rate locks
Fast in house loan servicing, constrution management and draws
Finance to 75% of land value/purchase price or payoff + 100% of construction budget (to 92.5% blended LTC) to 75% ARV
Term: 12 to 24 months
Loan amount: $250,000 to $5+ million per property
Portfolio loan amount: $500,000 to $20 million+ ($250,000+ per property)
660+ mid-FICO credit score (620+ for experienced builders)
Origination varies
Liquidity: cash to close and interest reserves
Non-recourse available
First lien
Appraisal required
Prior to closing, plans created and stamped by an architect, showing floor plans, elevation, and square footage count
Lot requirements:
- Fully entitled
- Ready to build within 90-days of funding
- Permits required before 1st draw (not at closing)
- Subdivided and individually parceled
- Water/sewer/well/septic lateral ready
- Properly zoned by closing
Borrower types: LLC or corporation
No bankruptcy, foreclosure, short sales, or deed in lieu last 3 years; no more than 2 late mortgage payments in last 3 years
Loan exit strategy: sell or refinance
Foreign nationals welcome
Funding in 2 to 4 weeks
To submit your loan request, click the blue GET STARTED Link for PRE-APPROVAL within 48 hours for qualified borrowers.
No upfront fees, tax returns, income verification, credit cards, Social Security Numbers or credit checks required for PRE-APPROVAL Term Sheet.