New Construction Loans

What are New Construction Loans?

New Construction loans are for real estate investors who plan to build a brand-new property. These properties can be built on vacant land or on a property with an existing structure that will be demolished. This is a short-term loan product specifically for building single-family and 2-4 family properties.

Who Can Benefit from New Construction Loans?

These loans are best suited for seasoned investors who have a track record of two or more new builds or large-scale renovation projects.

New Construction Loans At A Glance:

Property Types:

Non-owner occupied, single-family and 2-4 unit multi-family

Term:

12 months (can consider longer for certain projects)

Loan Amount:

$100,000 to $3,000,000

Interest Rates:

Rates between 10.0% - 12.0%

Loan Fees:

2.0% - 2.5%

Loan To Value (LTV):

Up to 70% purchase price

Prepayment Penalty:

None

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If you would like to apply for a Construction &/or Renovation loan, or any other types of loans we offer, please fill out a quick form today.