We are experts in construction loans, we know what needs to be done and how to do it when it comes to financing properties that need construction money. Feel free to contact us for a free consultation and see if we can help you obtain construction financing on your next project.


Loan Amounts:         $100,000 to $2,500,000

Property Types:        Residential & Commercial (Owner and Non-Owner-Occupied)

Loan Programs:        Self Build, Custom Build, Builder Spec, Builder Sold, Renovation, Construction Completion, Multi-Family, Commercial Construction

Lien Position:             1st Lien

Rate Floors:               6.95% to 7.95%+ for owner-occupied construction loans

8.45% to 10.95%+ for non-owner-occupied construction loans (Final terms vary depending on the specific Loan Program and Borrowers’ overall qualifications)

Application Fees:      $295 application fee on single family owner-occupied construction

$450 application fee on commercial construction/spec or non-owner-occupied properties

Underwriting Fees:   $425 on owner-occupied single family properties

$450 on non-owner-occupied and multi-family properties

Origination Fees:       2.25% to 3.00%+ for construction only loans (Amount varies based on program, loan type & Borrowers’ overall qualifications)

Term:                         1 Year (longer terms on an exception basis for larger non-owner-occupied projects)

Income:                      Typically full doc for owner-occupied properties & limited doc available for

                                    non-owner-occupied business or commercial loans (All files require two (2) years tax returns & asset verification)

Assets:                        Minimum investment of 25% down/equity on the land purchase price plus closing costs to qualify (larger initial investments may be required on larger lot sizes, limited income, non-owner-occupied properties, speculative properties or marginal credit Borrowers)

                                    Additional reserves* equal to 10% to 15% of the hard cost to build are required on Self Build/Builder Spec/Builder Sold/Commercial loans.

*These reserves are for potential cost overruns and carrying costs (Reserves could be cash, additional collateral, or lines of credit)

Credit:                        Not only FICO driven, however for best pricing, all credit scores should be 720+ (Decisions are based on the Borrowers’ overall qualifications)

LTV/LTC:                 Up to 90% of cost or loan to value on conforming, full doc, owner-occupied, single-family suburban/urban homes with all FICO scores being 720+

Up to 50%+ on speculative homes for sale

Up to 75% on pre-sold homes

Up to 75% for owner-occupied 2 to 4 unit multi-family properties

Payments:                  Interest-only payments based on monies advanced

Contact one of our experts for more information about construction loans.

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