Construction Loan
Ground-Up Construction Loan - LG262
Ground-Up Construction Loan - LG262
Summary of all Guidelines | |
| Loan Types | Construction Loan |
| Property Types | 2-4 Units, Mixed use, Multi Family, SFR |
| Lendding Area | NATIONWIDE |
| Loan amount Minimum | $100,000 |
| Loan amount Maximum | $10,000,000 |
| Terms | 1 year, 18 month, 2 year, 3 year |
| Credit Score Min | 680 |
| Interest Only or Amortized | Interest Only |
| Entities | LLC - Limited Liability Corporation, LP - Limited Partnership, Corp - Corporation |
| Lien Position | 1st |
| General Pricing or Guideline info | - Collateral type includes portfolio. - All properties are required to have a full conforming appraisal. - Minimum Experience: 3-5 ground up projects completed. - Bankruptcy: Not within the last 4 years and no other derogatory payments. - No amortizing loan permit. - Additional Details: Approved Plans required, Vertical Construction work only and 18-month upfront term. - Liquidity Requirements: 3 months of interest payments + portion of the rehab loan not funded in the loan. |
| Updated as of | 2023-11-10 |
| Program Code | LG262 |
- Collateral type includes portfolio.
- All properties are required to have a full conforming appraisal.
- Minimum Experience: 3-5 ground up projects completed.
- Bankruptcy: Not within the last 4 years and no other derogatory payments.
- No amortizing loan permit.
- Additional Details: Approved Plans required, Vertical Construction work only and 18-month upfront term.
- Liquidity Requirements: 3 months of interest payments + portion of the rehab loan not funded in the loan.
