Residential Construction

Residential Construction

1 to 4 Family Construction

4.99 % must own land free and clear, 80% of construction costs providing the loan amount is 65% or Below the As Completed Value.

Other programs can be as high as 12% to 15% and may leverage higher.

Renovation funds are also available at these rates , for mixed use or Multi Family.

 

Example:

$400,000 Construction Cost

Land owned 100% Free and Clear       Construction Loan 80%Loan to Construction Cost   $320,000   Loan Amount                                       Not to Exceed 65% As Completed Value

The loan term is for 12 months with a possibility of 6 months extension, Rates are currently 4.99 During Construction period, then after completion the borrower is required to sell or Locate Funding