New Construction Line of Credit
Builders and Investors can secure a line of credit (LOC) for the purpose of new construction. This LOC is for ground-up construction and can be utilized for a single build or multiple builds. All residential investment property types are eligible, including multifamily (5+ units). The loan amount per property will be determined by the lessor 90% of Cost or 75% of the Completed Value. Obtain 100% of construction cost if your lot(s) are free and clear. Interest Only payments are available for the 12 month loan term per property. Contact me to discuss your project.
Minimum Mid-FICO 620
Multiple draws available at borrower’s discretion
No Experience Required
Lot financing can be included, if lots are in build-ready condition
No interest charged on undrawn construction funds
Common Sense Underwriting
Line Amount: $500,000 - $10 million+
Loan Amount: $150,000 - $2.5 million per property
LTC: up to 100%*
ARV: up to 75%
Interest: from 7.00%**
Line Term: 12 Months
Loan Term: up to 12 months per property
Amort: Interest Only
No Prepayment Penalty
New Construction (tear down or ground-up)
Single Family Home
Mixed-Use: 75% residential
Multifamily: 5-20 units
*Up to 90% of lot value and construction costs or up to 100% of construction cost if the lot is owned free-and-clear.
**Interest Rate dependent upon experience and credit profile.