Construction – Private Portfolio Loans
When it comes to construction financing, a quick closing can mean the difference between lost opportunity versus a project on time and under budget. While banks are still in loan committee, our construction borrowers are out of the ground and on their first or second draw. Our lender’s construction loan program is the fastest, simplest financing of its kind in the market today.
Experienced builders only with a maximum exposure to any one borrower of not more than $2,000,000. Infill residential lots preferred but will consider new plats. .
PROGRAM DETAILS
ALL TYPES OF BORROWERS
- Individuals, Corporations, LLC’s, Trusts, Foreign Nationals
- Spec Construction or Owner Builder
- Non-FICO driven. Decisions based on the quality of the project
REALISTIC CONSTRUCTION PERIODS and…
- No prepayment penalties
- Refinance, Occupy or Sell the property at your own liesure
FLEXIBLE DISBURSAL SCHEDULES
- Lender’s staff construction manager at your service!
- Fast payments for completed line items
PORTFOLIO LENDER
- Lender doesn’t sell it’s construction loans
- Lender services all loans in-house
- The Borrower goes back to you for the refinance
SIMPLE APPLICATION PROCESS
- Complete our on-line Application
- Complete and return a one page construction loan application we will provide to you
Loan Amounts: Up to $2,000,000
Loan to Cost: Up to 75%
Loan to Value: 60% is typical, exception to 65%
Interest Rates: 9.99% – 10.99%
Prepay Penalty: None
FICO Score Min: 650
Loan Term: 9 – 15 months
Lien Position: 1st
Fees: 3 to 6 points (Total Points)
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