Commercial Ground-Up & Rehab Construction Financing
RESIDENTIAL, MULTIFAMILY, COMMERCIAL & INVESTMENT PROPERTY LENDING
Commercial Ground-Up Construction Financing
1 to 3-Year Fixed & Variable Interest Only Construction Loans.
Loan is fixed or variable for up to 3-years with interest only amortization. Loan is due at the end of the 1 to 3-year term. No prepayment penalty in most cases. Construction Loans are short-term interim loans designed for new construction and major rehab projects prior to securing long-term financing or disposition.
Eligible properties include: multifamily 5+ units, 1-4 unit residential, condos, office, retail, industrial, manufactured housing, self-storage, hotels, and healthcare
Program Details
- LEVERAGE GROUND-Up : Max ARV: 65% | Max LTC: 80% | Build Cost:100% | Min Credit: 650
- LOAN AMOUNT GROUND-UP: 250k -100MM+
- EXPERIENCE: Prior construction / rehab experience highly preferred.
- OCCUPANCY : Owner occupied residential developments, investment properties, commercial owner-user.
- LIQUIDITY: Minimum 10% of project budget + minimum 6-months interest reserves
- BUILDER: Must be approved by lender
- RATE: Starting rate a Prime + 2%. Rates are project specific and heavily based on sponsor experience.
