PRIVATE NEW CONSTRUCTION

PROPERTY TYPE Homes with 1-4 Units (5 units and above on a case-by-case basis)

LOAN AMOUNT: US$ 100K to US$ 3M (Up to 1US$ 0M subject to longer approval time)

MAXIMUM LOAN TO COST (LTC):   85%

MAXIMUM LOAN TO VALUE (LTV) 70%

TERM LENGTH: Up to 24 months + 6 months extension

BASE RATE: 8.5% (Interest-only payments on disbursed amount)

MINIMUM FICO SCORE: 640

 NO PREPAYMENT PENALTIES

FOREIGN NATIONALS ACCEPTED: + 0.25 to base rate.

EASY DRAW PROCESS

Experience on 3 previous projects (constructions & rehab)

REQUIREMENTS

Latest three months bank statements

ID, passport, (US visa for foreign nationals)

Entity Documents (LLC or Corp), EIN & OP Agreement

Construction budget

6 months liquidity/reserves

Non-owner occupancy certification

SSN for credit report and background check

Evidence of insurance (full replacement + 500K liability) & builder’s risk insurance (if applicable)
 Signed loan application

Call or email today or use the Form provided Below to request information. No Cost or obligation.