New Construction Loans
Financing for build-to-sell and build-to-rent properties
New construction loans, sometimes referred to as ground-up construction loans, are short-term financing for build-to-sell or build-to-rent properties. Hard costs, such as the purchase of land, materials and labor, as well as soft costs, such as permits, architectural plans, and engineering can all be financed through our ground-up loans. These are non-QM loans designed with investors and builders in mind.
New Construction Financing Details
1 – 4 Units
|Loan to Value (LTV)*||Initial loan: up to 75% of as-is value. Maximum loan amount: up to 75% of After Repaired Value (ARV); Up to 90% total loan to cost (LTC)|
|Rates||Starting at 11.49%|
|Property Types||Non-owner occupied 1-4 units, condos, townhomes|
|Minimum Experience||At least 1 ground up construction project|
|Loan Amount||$50,000 – $3 million|
|Minimum Property Value||$150,000 (as-completed value)|
|Borrower Type||US-based business entities. Foreign National guarantors permitted.|
|Construction Funds||Funded via Draws|
* Assuming Entitlements, Permits & Approved Plans. Leverage based on documented experience in the last 3 years.
Ground-up Loan Application Process
Our loan process is simple – designed to help you close quickly and seamlessly. We know that time is money and our team’s goal is to help you move fast.
Apply for Loan
Upload required documents to our secure online loan portal
Underwriting reviews the file
Loan is APPROVED!
Funds for rehab and construction work are distributed via draws. This process is quick and easy.