Ground-Up Construction Loans
We Prioritize quick and in-house decision-making. In just one minute, provide us with details of your project. Our promise is to deliver a loan commitment on the same day and complete the closing process within seven business days. Plus you’ll have the support of a dedicated and experienced account manager available whenever you require assistance.
Get your quote
Ground-Up Construction Loans
We Prioritize quick and in-house decision-making. In just one minute, provide us with details of your project. Our promise is to deliver a loan commitment on the same day and complete the closing process within seven business days. Plus you’ll have the support of a dedicated and experienced account manager available whenever you require assistance.
Get your quote
Ground-up construction private loans offer real estate developers a streamlined and efficient financing solution for new construction projects. These loans are designed to provide several advantages over traditional bank loans, making them an attractive choice for experienced developers. Here’s why they are often easier to obtain and more advantageous: Faster Approval: Private lenders typically offer quicker approval processes compared to banks. This speed is crucial in the competitive real estate market, allowing developers to seize opportunities swiftly.
Flexible Qualification: Private loans for ground-up construction primarily assess the potential value of the project and the property, rather than relying solely on personal income and credit scores. This flexibility can be advantageous for developers with strong project plans but may not meet strict bank lending criteria.
Customized Terms: Private lenders often tailor loan terms to match the project’s timeline and needs. This personalized approach can be highly beneficial, ensuring that financing aligns with the construction schedule.
Minimal Red Tape: Private lenders typically involve less bureaucratic paperwork and fewer regulatory hurdles compared to banks, making the loan application and approval process more straightforward.
Speedy Funding: Once approved, private lenders can disburse funds quickly, allowing developers to initiate construction promptly and avoid delays. Adaptability: Private loans can be adapted to suit various construction types, including residential, commercial, and mixed-use developments.
In summary, ground-up construction private loans offer real estate developers a more accessible and efficient financing alternative to traditional bank loans. Their speed, flexibility, and tailored terms make them an attractive choice for those looking to embark on construction projects and capitalize on market opportunities.
Ground-Up Construction Loan Terms
- 250K-7.5M Loans
- 12-24 Month Interest only loan terms
- Up to 75% of ARV total project cost ( purchase or refinance)
- Purchase: Up to 80% initial advance; up to 90% LTC
- Refinance: up to 75%
Common Borrower Requirements
Commonly asked questions
Simply provide us with some fundamental information, once we go over it you will receive a quote and term sheet with all costs incurred for the loan making you prequalified
You provide the necessary information, and we handle the appraisal and address any title-related issues.
Assuming the appraisal and title report are favorable, you can finalize the deal within seven business days*.
Indeed, you will be required to submit bank statements (business or personal) demonstrating your available capital, depending on the deal we will ask for a personal financial statement (PFS) / Bio. We will never ask for your tax returns, as we provide asset based loans.
Indeed, you will be required to submit bank statements (business or personal) demonstrating your available capital, depending on the deal we will ask for a personal financial statement (PFS) / Bio. We will never ask for your tax returns, as we provide asset based loans
Typically, there is no prepayment penalty for repaying the loan before its scheduled maturity date.
Yes, we actively do a lot of deals with brokers and realtors. Allowing them to expand their earning potential and tap into products they need to get their client to the closing table.
Typically we focus on property types such as 1-4 unit residential.
If you have a larger deal greater than 1-4 units that's not a problem- we are able to underwrite it and have flexible loan options to suit larger sized deals.
We evaluate and underwrite loans for landlords & developers, including anything from single-family, multi-family properties to special purpose properties.
First we would run your credit and get an application filled out, order the appraisal and title and at the same time ask that you send us over the required documents needed to proceed with the loan process. For ground-up loans we would require documents such as approved plans and permits as well as prior experience.
Yes we can roll in points into the loan. We believe in making the borrowing process as easy as possible. However the rate will increase- The additional closing costs such as an ex. “processing fee” will have to be paid at closing.
As part of our standard procedure, we conduct a title search to ensure a clear and marketable title before approving the loan. This safeguards our investment and also serves to protect you, the borrower. We recommend reaching out to a local, investor-friendly title company or title attorney who can furnish you with a list of fees associated with the title search process.
Absolutely. We recognize that unforeseen circumstances can impact the progress of a deal. However, it's important to note that there is typically a fee involved with a loan extension.