New Construction requirements and loan scenarios
WHO IT'S FOR
- Ground-up and infill construction of 1-4 unit properties in urban and suburban areas, for builders and investors with ground-up or significant flip experience on the standard program. Select special program scenarios may close with no permits in place, subject to eligibility.
TYPICAL GUIDELINES
- Standard program: loan sizes from $50K to $1M, and up to $3M with underwriter pre-screen. Up to 75% of the lesser of land purchase price or value with permits, and 60% without permits. Up to 85% of total cost, or 90% with a financed interest reserve. Up to 70% of after-repair value (ARV). 12-month terms, with 18 to 24 months and extension options subject to pricing. Minimum credit score of 680, LLC or corporation borrowers, and guarantor net worth of at least 10% of the loan amount. Special program, for select scenarios and subject to eligibility and underwriting: up to 85% of total cost, up to 70% of ARV, and 12, 18 and 24-month terms with extension options.
Guidelines vary by program and scenario and are subject to underwriting. Not a commitment to lend. Call our Office Number (707) 622-2455 or Direct Line (818) 269-7983, or use the Get a Quote form on the Home page.