Construction Loan
Ground Up - LG421
Ground Up - LG421
Summary of all Guidelines | |
| Loan Types | Construction Loan |
| Property Types | Condo, Multi Family, SFR |
| Lendding Area | NATIONWIDE |
| Loan amount Minimum | $200,000 |
| Loan amount Maximum | $50,000,000 |
| Interest Rate Minimum | 8.75% |
| Interest Rate Maximum | 14.75% |
| Points Minimum 1st TD | 1 |
| Points Maximum 1st TD | 2 |
| Terms | 18 month |
| Typical Days Required to Fund | 11-15 Business days |
| Credit Score Min | 620 |
| Cross Collateralize Blanket | Yes |
| Lien Position | 1st |
| Prepayment Penalty | 6 months |
| Intended Occupancy | Tenant, Owner Occupied Business Purpose |
| Fixed or Adjustable | Fixed |
| Recourse | Recourse |
| Reserve Requirement | 4 months |
| Updated as of | 2024-02-19 |
| Program Code | LG421 |
These descriptions are limited information and meant for general reference purposes.
