Construction
We finance the construction of residential and small multifamily investment properties. Investors appreciate our
flexible terms, ease of draw funding, and speed of closing.
Lending Criteria
| LOAN AMOUNT | $200,000 to $1.5 million. Loan amounts outside of this range considered. |
| LOAN TERM | 12, 18 or 24 months |
| PAYMENT TYPE | Interest-only with balloon payment at maturity. No interest paid on undrawn funds. |
| LEVERAGE | Up to 85% loan to cost; 65% loan to after construction value |
| CONSTRUCTION FINANCING | 100% of construction budget (including eligible soft costs) |
| CREDIT FOR LAND | 100% of acquisition cost |
| CLOSING TIMELINE | 2-3 weeks |
Additional Guidelines
| FICO | 700 min soft credit assessment |
| INVESTING EXPERIENCE | We require a sponsor to have completed at least 4 new builds. GC’ing and complex flip projects may also count toward experience depending on complexity. |
| ELIGIBLE PROPERTIES | Single-family, townhomes, ADU’s, and 2-4 units (5-20 units considered) |
| ELIGIBLE STATES | Nationwide except ND, NV, SD, VT and WV |
| BORROWER | Loans are made to entities. A personal guarantee is customary. |
| CONSTRUCTION DRAWS | Materials, labor, demolition, and customary soft costs reimbursable. Draw request takes 3-4 business days with a virtual inspection. |