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NEW CONSTRUCTION

INVESTOR FINANCING

GET PREQUALIFIED NOW

INVESTOR NEW CONSTRUCTION FINANCING!

Up To 75% Of Lot & 100% of Construction Cost!

$150,000.00 –  $3,000,000.00 Loan Amounts!

 

Overview

STANDARD NEW CONSTRUCTION FINANCING

 

NO PRIOR GROUND UP CONSTRUCTION EXPERIENCE REQUIRED

 – Must have 3+ completed resale residential fix and flips in the last 36 months (with at least 1 in the same market as the new construction project)!

Max Loan Amount Cannot Exceed 80% Of Total Cost!

– Minimum 650+ qualifying credit score!

 – $200K completed value or higher ($100K per unit on 2-4 unit properties)

 – Approved plans/permits required for borrowers with no new construction experience prior to closing – NO EXCEPTIONS!

 – Loan to cost increases depending on experience!

 

For Fast Prequalification – No Credit Pull Required For Prequalification – Click Here

 

EXPERIENCED INVESTOR – New Construction Financing Highlights:

  Up To 75% Of Lot Acquisition Cost (if permitted)!

100% Financing Of Hard Construction Cost!

– Loan Amounts From $150,000.00  –  $3,000,000.00!

Max Loan Amount Cannot Exceed 80% Of Total Cost! 

Minimum 680+ Credit Required To Qualify For Funding! 

– Must Have Minimum Of 3+ Ground Up New Constructions Projects Completed OR Residential Resale Renovations Completed Within Last 36 Months!

– No Personal Income Verification!

– No Prepayment Penalty!

– 12 Month Term!

– Interest Only Payment! 

For Fast Prequalification – No Credit Pull Required For Prequalification – Click Here

INVESTOR NEW CONSTRUCTION FINANCING PROGRAM  

Funding Available NATIONWIDE, except:

AK, CA, KS, MT, ND, OR, SD, UT

All investor loan transactions must close in the name of  a business entity!   

 

NEW CONSTRUCTION GUIDELINES

1.  Prior Experience Requirement

Must Have A Minimum Of Three (3) Previously Completed Ground Up New Construction Projects OR Residential Resale Renovations Completed Within Last 36 Months.    

 

2.  Credit Score Requirement

Minimum 650+ qualifying credit score required for funding approval.

 

3.  Qualifying Credit Criteria  

No bankruptcies in past three (3) years

No foreclosures, short sales, or deed in lieu in past 3 years

No prior criminal convictions at any time in the past

 

4.   Construction Budget & Funds Disbursement Policy

–  We do not advance construction loan funds.  Construction funds are disbursed as work is completed on your project

–  Construction Draw Funds are normally disbursed per agreed draw schedule within 2-3 business days after completion of inspection/validation of completed work.

 

5.  Qualifying Types Of Properties 

Single family, 2-4 units, condo’s, town-homes.

 

6.  All Transactions Must Close In A Business Entity Name

Funding can only be approved in a business entity name.  There is no seasoning requirement on the age of the business entity.  Entities include:  LLC, LLP, S-Corp, C-Corp.

 

7Minimum And Maximum Loan Amounts

Minimum loan amount is $200,000.00.

Maximum loan amount is $3,000,000.00.

 

8.  Lender Related Fees

– Loan origination fee:  3.99% of total loan amount.

– Doc prep fee:  $995.00

– Processing fee:  $1,195.00

9.  Full Property Appraisal Required

A new traditional full property appraisal is ALWAYS required for new construction projects.

Terms of Loan Funding

10.  Subordinate Financing

Subordinate financing is NOT allowed, which includes 2nd mortgages and seller held financing.

 

11.  Required Documents For Funding Approval

Business Entity Borrower Only (Must close in the name of a business entity)

__ Copy of valid government issued ID

__ Articles Of Organization for LLC Or Articles Of Incorporation for a Corporation

__ Operating Agreement or Corporate Charter/Bylaws

__ Construction Budget

__ Copy of building plans and specifications

__ Construction Draw Schedule

__ Survey of lot/land

__ Copy Of HUD Settlement Statements from acquisition and sale of completed ground up new construction projects.

Note:   Terms are subject to change. Final terms vary depending on the property and borrowing entity

Get Started Now – Free Pre-qualification – 600+ Credit OK!

Low Rates – Flexible Terms – Close in 10-12 business days!