New construction

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**Key Facts about our New Construction Loans

• Construction loans offer funding up to 80% of construction costs (if you own the land & shovel ready) with multiple draws available.
• Individual loan amounts $150K – $5 MM
• Loans available for single family and multi-family properties.

LOAN PURPOSE 

• Ground-up construction loans for developers and investors building 1-5 properties at a time
• Lot financing can be included, if lots are in build-ready condition
  

Project Status

          Projects must be permit-ready. Roads, water, sewer must be complete and       available. 

Minimum Credit Score

              660

INTEREST RATE

• 10.50% and up (based on experience)

MINIMUM PROPERTY VALUE

• $100,000

 TERM

• 12 months up to 18 months

BORROWER TYPE

• LLC, Partnership, or Corporation

MAXIMUM LOAN-TO-VALUE (LTV)

• 70% LTV of ARV

MAXIMUM LOAN-TO-COST (LTC) COST 

• 90% LTC 

MWHEN DO WE USE LTV VS LTC?

• Generally, we use the lesser of LTV or LTC calculation

AL, AR, CO, CT, DC, DE, FL, GA, IA, IL, IN, KS, KY, LA, MA, MD, MI, MO, MS, NC, NE, NJ, OH, OK, PA, RI, SC, TN, TX*,WI, WV, WY

 Note: Loan approval is subject to program guidelines. Interest Rate and program terms are subject to change. Final terms vary according to the unique attributes of each loan transaction. Loans made to non-natural person (Business entity only). **Loan amount based on 70% of “ARV value” or 90% LTC, whichever is lower. These are commercial loans. Please call for details.​