NEW CONSTRUCTION
INVESTOR FINANCING
INVESTOR NEW CONSTRUCTION FINANCING!
Up To 80% Of Lot & 100% of Construction Cost!
$150,000.00 – $3,000,000.00 Loan Amounts!
Overview
STANDARD NEW CONSTRUCTION FINANCING
GROUND UP NEW CONSTRUCTION
– Must have 3+ completed ground up new construction projects within in the last 36 months OR have documented completion of 3+ new construction projects for “CUSTOMERS” within 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 Project Cost!
– Minimum 660+ qualifying credit score!
– $200K completed value or higher ($100K per unit on 2-4 unit properties)
– Up To 80% Of Lot Acquisition Cost (with approved permit to build)!
– 100% Financing Of Hard Construction Cost!
– Loan Amounts From $200,000.00 – $3,000,000.00!
– 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. 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
2. 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.
3. Qualifying Types Of Properties
Single family, 2-4 units, condo’s, town-homes.
4. 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.
5. Full Property Appraisal Required
A new traditional full property appraisal is ALWAYS required for new construction projects.
6. Subordinate Financing
Subordinate financing is NOT allowed, which includes 2nd mortgages and seller held financing.
7. Required Documents For Funding Approval
Business Entity Borrower Only (Must close in the name of a business entity)
__ Copy of Lot Purchase and Sales Agreement
__ Copy of valid government issued ID for all members of the business entity.
__ 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
__ Copy of approved building permit
__ Survey of lot/land
__ Copy Of HUD Settlement Statements from acquisition and sale of previously 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
Low Rates – Flexible Terms – Close in 10-12 business days!