We offer loans.
A construction loan is typically a short-term loan used to pay for the cost of building a home.
Construction Loan: One Time Close and Investment Property Only
- 20% down payment, of the cost of the property, plus construction cost.
- Interest only for 1 year while you build.
- 5-year ARM with a 25-year amortization.
- 720 minimum credit scores
- Preapproval process about 1 week
- Close in about 45days
- Inspection fees $150 per inspections (based on draws)
- No max amount for renovations
- Minimum loan amount $50k for flips and $100k for New Construction.
- Commercial appraisal about $1200 for fourplex. Less on lesser units
- Builder approval thru third party vendor is required.
- No prepayment penalties
- No escrows required
- No max debt to income ratios
- Gift Funds from relatives are not allowed on this program
- Citizen, permanent resident and some Work Visas allowed
Construction Loan for Investors
Ground-up construction loans for build-ready lots. Ideal for investment property infill, tear down, and spec homes.
Minimum Experience (36 mo. Lookback period):
Minimum (1) New Construction experience for max leverage or (1) Fix & Flip experience for reduced leverage
Individual Loan Size:
Single Unit: $100K – $1MM Multi Unit (2+): $100K – $1.5MM
Exposure Limit Amount:
$500K – $10MM
Up to 100% of construction budget
Individuals and Entities (LLC, Corporation). Foreign Nationals eligible.
Non-owner occupied: Single Family Residence, 2-4 units, Condos1, Multi-family, Mixed Use Property
Eligible Costs Financed
We finance Hard Costs and all Soft Costs
12 months standard, interest-only with fixed rate. 18-month option available.
180 days of interest on the maximum loan amount
Interest on full balance or the actual drawn balance
Ineligible Project Scope
Limited to build-ready infill, tear down, mid-construction3 & spec homes. Not for tract home projects or new subdivisions (10+ homes)
Full 1004 Appraisal with “as-is” and “ARV” values. Exterior appraisal with “as-is” and “ARV” values allowed (case-by-case). No rural properties.
(ARV= After Repair Value)
Down Payment + Closing Costs + 10% of the Holdback + Any Equity Shortage + Required Reserves
Optional 6 months or 12 months for lower rate
Credit Scores and Loan to values:
Minimum Credit Score: 620 FICO
Max Loan-to-Value (ARV LTV)
- Single Unit max 70%
- Multi Unit (2+) max 65%
Max Purchase Loan (LTC)
- Single Unit max 85%
- Multi Unit (2+) max 80%