Construction Loan

Ground up or Rehab financing available for multifamily, mixed use, retail, office and industrial property types.

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Loan Terms:

  • Loan Amount: $250,000 - $50,000,000+
  • Loan Term: 1 - 2 Years
  • Interest Rate: 5.99% - 9.99% + LIBOR Interest Rate
  • Origination/Closing Fees: 1% - 3.75%
  • Loan Values/Costs: 60% - 75% LTC
  • 50% - 65% LTV of Stabilized Value
  • Non-Recourse with Carve Outs if Necessary

Requirements:

  • 680+ Personal Credit Score or 80+ Business Credit Score
  • $50,000 + Personal Annual Income and or $100,000 + Business Annual EBIDA
  • Less Than 40% DTI
  • 2+ Year Past Experience

Documents To Submit For Approval:

  • Complete Uniform Commercial Loan Application
  • Construction Project Plans, Budgets and Permits
  • Current 3 Years Tax Returns Personal and Business
  • FYE and Current Business Balance Sheet and Profit & Loss Statement
  • Property Appraisal / BPO / Comparative Marketing Analysis
  • Complete Personal Financial Statement Form
  • Current 6 Months Bank Statements Personal / Business (every page, even blank)
  • Current (within past 30 days) Detailed Credit Report with FICO Scores from all 3 Credit Bureaus

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