GROUND-UP CONSTRUCTION LOAN PROGRAMS
Are you looking to build a new construction project? We will help to make it easy, simple, and fast.
If you own the land free and clear, we can lend up to 100% on the ground up construction.
Ground up construction loans are designed to finance the construction of new properties from the ground up. Here are some key points about these loans:
Purpose: These loans are specifically for building new residential or commercial properties, rather than purchasing existing ones.
Loan Amounts: Loan amounts can vary widely, with some lenders offering loans from $100,000 to $100 million depending on the project scope.
Loan-to-Cost (LTC) Ratios: Lenders typically offer up to 90% of the total project cost. This means you can borrow up to 90% of the cost to complete the construction.
Loan-to-After Repair Value (LTARV): Lenders may also consider the after-repair value of the property, offering up to 75% LTARV.
Term Length: The term length for ground up construction loans can range from 12 to 24 months, depending on the lender and the project timeline.
Flexibility: These loans often come with flexible terms and minimal requirements, such as no income verification or reserves needed.
Usage: Ground up construction loans can be used for various types of properties, including single-family homes, townhomes, and multifamily units.
Fast Financing: Many lenders offer streamlined processing and fast closings to help you capitalize on new opportunities quickly.
Ground up construction loans can be a valuable tool for investors looking to build new properties and maximize their investment potential. Do you have a specific project in mind that you're considering for a ground up construction loan?
PROPERTY LENDING QUESTIONAIRE
To help us understand your investment property and the funding required, please fill out the short form below and a representative will be with you shortly to discuss your property and how we can help you achieve your funding needs. If you would prefer to talk to someone immediately, please call us at 248-882-4184.
