Loan Purpose: Ground-up construction loans for developers and investors building 1-5 properties at a time.
- Lot financing can be included, if lots are in build-ready condition.
- Program includes exposure line of credit for experienceed large volume investors or single loanoption.
Loan Term: 12 months (standard) with optional extensions.
Borrower Type: Individual, LLP or LLC.
Maximum Loan-To-Value (LTV): 75% of ARV.
Maximum Loan-To-Cost (LTC): 90%.
Cost is purchase price amount
When do we use LTV vs LTC?: Generally we use the lesser of LTV or lTC calculation.
Rehab/Construction Financing: Funding up tp 90% of construction budget up to 75% of land value.
Property Types: None-Owner Occupied
- Single Family Residences.
- 2 - 4 unit properties.
- Multi - family 5 +