New Construction

LOAN PURPOSE

• Ground-up construction loans for developers and investors building multiple properties at a time

• Lot financing can be included, if lots are in build-ready condition

• Program includes exposure limit (LOC) for experienced large volume investors, with options for inexperienced investors

INTEREST RATE

6.75% and up

LOAN AMOUNT

$75K - $5M (max $500k for inexperienced investor)

TERM

13 months (standard), with optional extensions

BORROWER TYPE

Individual or Entity

MAXIMUM LOAN-TO-VALUE (LTV)

Up to 75% of After Repair Value (ARV)

MAXIMUM LOAN-TO-COST (LTC)

COST IS PURCHASE PRICE AMOUNT

90%

WHEN DO WE USE LTV VS LTC?

Generally, we use the lesser of LTV or LTC calculation

REHAB/CONSTRUCTION FINANCING

Funding up to 100% construction budget up to 75 % Approved LTV of Total Cost

PROPERTY TYPES

Non-Owner Occupied:

• Single Family Residences (SFR)

• 2-4 unit properties

• Multi-family 5-20 unit properties

• Mixed-use

• Detached or townhouse style condos