Construction Loan
- LG428
- LG428
Summary of all Guidelines | |
| Loan Types | Construction Loan |
| Property Types | 2-4 Units, SFR |
| Lendding Area | arizona, california, colorado, connecticut, delaware, florida, georgia, kansas, maryland, massachusetts, missouri, new-jersey, north-carolina, oregon, pennsylvania, rhode-island, south-carolina, tennessee, texas, virginia, washington, west-virginia |
| Loan amount Minimum | $85,000 |
| Interest Rate Minimum | 8.5% |
| Interest Rate Maximum | 13.5% |
| Points Maximum 1st TD | 2.5 |
| Terms | 1 year, 18 month |
| Typical Days Required to Fund | 11-15 Business days |
| Credit Score Min | 680 |
| Interest Only or Amortized | Interest Only |
| Fees | Underwriting |
| Entities | Corp - Corporation, LLC - Limited Liability Corporation, Partnership, LP - Limited Partnership, Taking Title Personally not permitted |
| Lien Position | 1st |
| Prepayment Penalty | No Prepayment Penalty |
| Intended Occupancy | Vacant, Tenant, Non-owner occupied |
| Fixed or Adjustable | Fixed |
| Recourse | Recourse |
| Reserve Requirement | None |
| Updated as of | 2024-01-17 |
| Program Code | LG428 |
These descriptions are limited information and meant for general reference purposes.
