GROUND UP CONSTRUCTION
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Up to 75% of the lower of land value or purchase price/60% if unpermitted, plus 100% of construction
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Max 85% of total project costs
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LTC Catch Up Draw to raise initial advance to 75% at approval of required plans/permits post-closing
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* These terms and conditions reflect a borrower with 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
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* If you have completed 3 or more projects then the terms and conditions will be different. Call for quote.
Ground Up Example Terms
These terms and conditions are for a borrower(s) with no experience up to 2 previous projects.
MAXIMUM LOAN TO ARV
Up to 70%
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RECOURSE
Full Recourse
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RESERVES/ESCROWS
Interest Reserve:
Minimum 1 month
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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
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LOAN AMOUNT
Min: $50,000
Max: $5,000,000
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TERM LENGTH
12 months, Up to 18 at Lender Discretion
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PROPERTY COUNT
Min: 1
Max: 2
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PERMITTED PROPERTY TYPES
Eligible: Non-owner Occupied 1-4 unit residential, Townhomes, Condos
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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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Terms and conditions expressed in this website can be changed without prior notice and are examples of what may be possible, we make no promise or guarantee that the borrower will receive these terms and conditions. Each loan stands on it's own merits or lack there of.