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Construction Site

MAXIMUM LOAN TO COST

Up to 75% of the lower of land value or purchase price/60% if unpermitted, plus 100% of construction

Max 85% of total project costs

LTC Catch Up Draw to raise initial advance to 75% at approval of required plans/permits post-closing

Ground Up

Experienced Developer Program (3+ Similar Past Projects)

MAXIMUM LOAN TO COST

Up to 75% of the lower of land value or purchase price/60% if unpermitted, plus 100% of construction

Max 90% of total project costs

LTC Catch Up Draw to raise initial advance to 75% at approval of required plans/permits post-closing

MAXIMUM LOAN TO ARV

Up to 70%

RECOURSE

Full Recourse

RESERVES/ESCROWS

Interest Reserve:

Minimum 1 month

Minimum 6 months full boat IR funded with initial loan amount for 90% LTC loans

EXPERIENCE

Previous real estate experience required: 3+ similar Ground-up builds + heavy rehabs with expansion. Professional deveopment / builder.

Guarantors with no experience permitted with experienced guarantor that meets the above experience criteria

LOAN AMOUNT

Min: $50,000

Max: $5,000,000

TERM LENGTH

12 months, Up to 24 at Lender Discretion

PROPERTY COUNT

Min: 1

Max: 10

PERMITTED PROPERTY TYPES

Eligible:

Non-owner Occupied 1-4 unit residential

Townhomes

Condos

Ineligible:

Mixed use properties

5+ unit multifamily properties

Condotels

Co-ops / TICs

Commercial Property

Log Homes

Properties Subject to Oil and/or Gas Leases

Operating Farms, Ranches, or Orchards

Vacation or Seasonal Rentals

Rural properties

MAXIMUM LOAN TO ARV

Up to 70%

RECOURSE

Full Recourse

RESERVES/ESCROWS

Interest Reserve:

Minimum 1 month

EXPERIENCE

Previous real estate experience required: 1-2 Ground ups

GCs if experience if permits tie to Ground ups

Guarantors with no experience permitted on a case by case basis

LOAN AMOUNT

Min: $50,000

Max: $5,000,000

TERM LENGTH

12 months, Up to 18 at Lender Discretion

PROPERTY COUNT

Min: 1

Max: 2

PERMITTED PROPERTY TYPES

Eligible:

Non-owner Occupied 1-4 unit residential

Townhomes

Condos

Ineligible:

Mixed use properties

5+ unit multifamily properties

Condotels

Co-ops / TICs

Commercial Property

Log Homes

Properties Subject to Oil and/or Gas Leases

Operating Farms, Ranches, or Orchards

Vacation or Seasonal Rentals

Rural properties

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123-456-7890 

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