Best Construction Loan Programs around
- Mixed-use, and all types of other Commercial Properties
- Single Family Residential
- 1 – 4 unit Residential
- Industrial
- 5+ Units
- Retail
- Office
Key Features
Loan Amounts
Minimum loan amount of $250,000 to $75,000,000
Term
12, 18, & 24 month terms
Prepayment Penalty
Typically not applicable
Credit Score
Minimum 620
Lien Position
1st Position Trust Deeds / Mortgages only
Lending area
Multi State Nationwide
Recourse
Recourse and Non-recourse considered
Key Features
Broken Construction
Land Development and Construction
Large Rehab
The Most Common Ground Up Construction Loans
Construction Loans
The loan takes you from acquisition to completion.
Construction-to-permanent loans
These loans provide funds to build your dwelling and for your permanent mortgage as well. This can only be acquired through banks and other traditional financial institutions.
Frequently Asked Questions(FAQs)
Licensed appraisers estimate a home’s value. They do this by assigning value to the plot of land on which the building is to be built, of the property that is to be refurbished and then comparing it to comparable properties. The properties used for comparison are referred to as “comps” and they inform the perceived value of your property.
Yes, you would need to show the projects that you have done that are similar and recent, or some kind of experience that is commensurate to the project that you are looking to do.