New Construction
About the Loan
Construction loans are short term financing for the development of new properties. Their term is 12 months or can be tailored to a construction timeline. They can include the purchase of land and the cost of construction and are for developers who act as their own builder or owners who hire a builder. They are for properties built to sell or hold by restructuring into longer term financing.
KEY FEATURES
- Rates starting at 5.99%
- Up to 90% of purchase price and 100% of rehab. not to exceed 75% of after built value.
- No tax returns required.
- No Income Verification.
- Experienced or beginner investors.
- Purchase and refinance transactions.
- Loan amounts from $75k to $1000k
- Equity Based Lending.
- Foreign National eligible.
- Deferred interest payments possible
- No sourcing or seasoning of down payment.
- Interest only on funds drawn.
- Equity Based Lending.
PROPERTY TYPES
Single-family, multi-family (1-4 unit), mixed use, condos, townhouses, apartment and office buildings, sub-divisions, commercial, industrial, retail, storage, warehouse, medical, and specialty properties.
Single-family
multi-family (1-4 unit)
mixed use
condos
townhouses
mixed-use
specialty properties.
retail
medical
warehouse
storage
commercial
apartment
office buildings
medical, sub-divisions
industrial