Ideal for Build-Ready infill, tear down, and spec homes in urban locales

Not for Tract Home Projects or New Subdivisions (10+homes)

Mid-Construction Financing options available

Loans available for SFR, 1-4 Unit Residential, Townhomes, Condos

12 or 24 Month Loan Term depending on the Project Plan

Experienced Developers with 3+ similar past projects eligible for higher leverage

Foreign Nationals Eligible

Minimum Loan Amount: $50,000

Maximum Loan Amount: $3,500,000

Property Count: Min 1, Max 2

Eligible Property Types: Non-Owner Occupied 1-4 Unit Residential, Townhomes, Condos

Ineligible Property Types: Mixed Use Properties, 5+ Unit Multifamily Properties, Condotels, Co-Ops / TICs, Commercial Property, Log Homes, Properties Subject to Oil and / or Gas Leases, Operating Farms, Ranches, or Orchards, Vacation or Seasonal Rentals, Rural Properties

Terms Length: 12 Months,18 Months and 24 Months at Lenders Discretion

Max LTC: Up to 75% of the lower of land value or purchase price/60% if unpermitted, plus 100% of Construction; Maximum 85% of Total Project Costs without Financing Interest Reserve; Maximum 90% of Total Project Costs with Financing Interest Reserve.

LTC Catch Up Draw to raise initial advance to 75% at approval of required plans / permits post-closing

Max Loan to ARV: Up to 70%

FICO: 680 Midscore

Experience: Previous Real Estate Experience required, 1-2 Ground ups; GC’s if experience if permits tie to Ground ups;

Guarantors with no experience permitted on a case-by-case basis

Recourse: Full Recourse

Profit Test: Minimum 30% ROI, If fail, must pass 1.20 DSCR test on a market 30-year FRM

Interest Reserve: Minimum 1 Month Required