Residential Ground Up Construction Loans
Single family homes, duplexes, triplexes, quads, condos and townhomes.
No upfront fees, tax returns or income verification
Nationwide in most states
Urban and suburban locations
Competitive interest rates on drawn balance
Interest only
No prepayment or minimum interest
Interest rate locks
Fast in house loan servicing and constrution management
4 day draws
Finance to 85% 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 $50 million+ ($250,000+ per property)
680+ credit
Experience: 1+ ground up in last 3 years
Origination varies
Liquidity: cash to close and interest reserves
Exit strategy: sell or refinance for long-term investment
Recourse
First lien; no subordinate liens permitted
Appraisal required
Prior to closing, plans created, showing floor plans, elevation, and square footage count
Lot ready to build within 90-days of funding
Permits required before 1st draw (not at closing)
Lots subdivided and individually parceled
Properly zoned by closing
Borrower types: LLC or corporation
No bankruptcy, foreclosure, short sales, or deed in lieu last 3 years
Loan exit strategy: sell or refinance
Foreign nationals welcome
Funding in 3 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.