Construction Loan
Ground-Up Construction Residential 1-4 units (GUC):
Program #LG452
Ground-Up Construction Residential 1-4 units (GUC):
Program #LG452
Summary of all Guidelines | |
| Loan Types | Construction Loan |
| Property Types | 2-4 Units, SFR |
| Lendding Area | NATIONWIDE |
| Loan amount Minimum | $100,000 |
| Loan amount Maximum | $3,000,000 |
| Interest Rate Minimum | 11.75% |
| Interest Rate Maximum | 13% |
| Points Minimum 1st TD | 2 |
| Points Maximum 1st TD | 2.5 |
| Terms | 1 year, 18 month |
| Typical Days Required to Fund | 20-30 Business days |
| Credit Score Min | 680 |
| Interest Only or Amortized | Interest Only |
| Fees | Underwriting |
| Entities | LLC - Limited Liability Corporation |
| Extensions Available | Considered based on Performance |
| Cross Collateralize Blanket | No |
| Lien Position | 1st |
| Max Points Charge by Broker | 5 |
| Prepayment Penalty | No Prepayment Penalty |
| Intended Occupancy | Tenant |
| Fixed or Adjustable | Fixed |
| Recourse | Recourse |
| Reserve Requirement | 6 months |
| General Pricing or Guideline info | [] Loan amounts $75k - $3m [] Minimum FICO 680 [] 12-24 Month Term | Interest Only Payments [] No tax returns required [] No Interest charged on the build portion until funds are drawn |
| Updated as of | 2024-02-18 |
[] Loans amounts $75k - $3m
[] Minimum FICO 680
[] 12-24 Month Term | Interest Only Payments
[] No tax returns required
[] No Interest charged on the build portion until funds are drawn
- Jonathan Finman
Managing Partner
