Construction Loan
- LG386
- LG386
Summary of all Guidelines | |
| Loan Types | Construction Loan |
| Property Types | Mixed use, Multi Family, SFR |
| Lendding Area | NATIONWIDE |
| Loan amount Minimum | $5,000,000 |
| Loan amount Maximum | $100,000,000 |
| Interest Rate Minimum | 9.25% |
| Points Minimum 1st TD | 1 |
| Points Maximum 1st TD | 5 |
| Terms | 6 month, 9 months, 1 year, 18 month, 2 year, 3 year, 4 year, 5 year |
| Typical Days Required to Fund | 20-30 Business days |
| Interest Only or Amortized | Interest Only |
| Lien Position | 1st |
| Prepayment Penalty | No Prepayment Penalty |
| General Pricing or Guideline info | - Interest Rate: Starting at 9.39% - Closing Time: 20 Days - Loan Use: Purchase, refinance, cash-out, Construction on Entitled or Shovel Ready Land - Processing Fee: Based on Project Size - Underwriting Fee: Based on Project Size - Prepayment Penalties: None! (3+ months of minimum interest earned) |
| Updated as of | 2024-01-04 |
| Program Code | LG386 |
- Interest Rate: Starting at 9.39%
- Closing Time: 20 Days
- Loans Use: Purchase, refinance, cash-out,
Construction on Entitled or Shovel Ready Land
- Processing Fee: Based on Project Size
- Underwriting Fee: Based on Project Size
- Prepayment Penalties: None! (3+ months of minimum interest earned)
