New Construction Loans
Ground-up construction financing for 1-4 units
RATES STARTING AT 10.99%*
Our Construction Loans provide builders and investors with flexible and competitive terms on 1-4 unit homes
Key Facts about our Construction Loans
- Ideal for build-ready infill, tear down, and spec homes in urban locales
- Mid-Construction financing options available
- Not for tract home projects or new subdivisions (10+ homes)
- Experienced developers with 3+ similar past projects eligible for higher leverage
- 12 or 24 month loan term depending on the project plan
- Foreign Nationals eligible
- Loans available for single family and multi-family properties
Ground Up Program
Experienced Developer Program (3+ Similar Past Projects)
Up to 75% of the lower of land value or purchase price/60% if unpermitted, plus 100% of construction
Max 85% of total project costs
LTC Catch Up Draw to raise initial advance to 75% at approval of required plans/permits post-closing
Up to 75% of the lower of land value or purchase price/60% if unpermitted, plus 100% of construction
Max 90% of total project costs
LTC Catch Up Draw to raise initial advance to 75% at approval of required plans/permits post-closing
Up to 70%
Up to 70%
Min FICO
680
680
Previous real estate experience required: 1-2 Ground ups
GCs if experience if permits tie to Ground ups
Guarantors with no experience permitted on a case by case basis
Previous real estate experience required: 3+ similar Ground-up builds + heavy rehabs with expansion. Professional deveopment / builder.
Guarantors with no experience permitted with experienced guarantor that meets the above experience criteria
Min: $50,000
Max: $3,500,000
Min: $50,000
Max: $3,500,000
Min: 1
Max: 2
Min: 1
Max: 10
Eligible:
Non-owner Occupied 1-4 unit residential
Townhomes
Condos
Ineligible:
Mixed use properties
5+ unit multifamily properties
Condotels
Co-ops / TICs
Commercial Property
Log Homes
Properties Subject to Oil and/or Gas Leases
Operating Farms, Ranches, or Orchards
Vacation or Seasonal Rentals
Rural properties
Eligible:
Non-owner Occupied 1-4 unit residential
Townhomes
Condos
Ineligible:
Mixed use properties
5+ unit multifamily properties
Condotels
Co-ops / TICs
Commercial Property
Log Homes
Properties Subject to Oil and/or Gas Leases
Operating Farms, Ranches, or Orchards
Vacation or Seasonal Rentals
Rural properties
READY TO SUBMIT A LOAN?
Why Choose Our New Construction Loan?
- Loans designed for developers and investors alike
- Option to include land acquisition financing
- Multiple draws available at borrower’s discretion