Ground Up Construction

Maximum Loan To Cost

Finance up to 75% of the lesser value between land or purchase price; 60% for unpermitted lands, plus 100% of construction costs. Maximum 85% funding of total project costs. LTC Catch Up Draw available to increase initial advance to 75% upon approval of necessary plans/permits after closing.

Recourse

Exclusively Offering Full Recourse Loans

Experience

Required Real Estate Experience: 1-2 Ground-Up Projects with General Contractor Experience. Permits linked to Ground-Up Projects. Guarantors without experience may be considered on an individual case basis.

Term Length

12-Month Term, Extendable to 18 Months at the Lender's Discretion

Permitted Property Types

Eligible Properties:
Non-Owner Occupied 1-4 Unit Residential,
Townhomes
Condos
‍
Ineligible Properties:
Mixed-Use Properties
Multifamily Properties with 5+ Units
Condotels
Co-ops / TICs
Commercial Properties
Vacation/Seasonal Rentals
Rural Properties

Maximum Loan To Cost

Finance up to 75% of the lesser of land value or purchase price, 60% for unpermitted properties, plus 100% of construction costs. Maximum of 90% of total project costs. LTC Catch Up Draw available to increase initial funding to 75% following post-closing approval of required plans and permits.

Recourse

Exclusively Offering Full Recourse Loans

Experience

Real Estate Experience Required: 3+ similar ground-up builds and heavy rehabs with expansion, undertaken by a professional developer or builder. Guarantors lacking experience may be considered if paired with an experienced guarantor who meets the above criteria.

Term Length

12 months, Up to 24 at Lender Discretion

Permitted Property Types

Eligible Properties:
Non-Owner Occupied 1-4 Unit Residential,
Townhomes
Condos
‍
Ineligible Properties:
Mixed-Use Properties
Multifamily Properties with 5+ Units
Condotels
Co-ops / TICs
Commercial Properties
Vacation/Seasona