Our Ground Up Construction program offers Investors, Builders and Developers the opportunity to qualify for construction financing from $200,000 up to $10 Million. This will work for 1 to 4 unit non-owner occupied properties, Multifamily, spec. homes and subdivisions. Please see below!
Senior Commercial Capital Ground Up Construction Guidelines:
* Collateral: Non-Owner Occupied Single-Family Properties; Condos; Townhomes, Multifamily
* Term: 12 to 24 Months
* Loan Amount: $200k* - $10M Based on Max Loan Amount
Loan To Value will vary based on Borrower's experience in the last 3 years:
* Initial Loan Amount: Up to 75% of the As-Is Value based on Borrower's experience
* Maximum Loan Amount: Up to 75% of the After-Repair Value based on Borrower's experience
* Up to 90% Total Loan-to-Cost based on Borrower's experience
* Credit Score: 660 Minimum
The "Initial Loan Amount" refers to the purchase of land where the new construction will be built. These terms are offered assuming the Borrower has already obtained building Entitlements, Permits & Approved Plans.
This Ground Up Construction program is available to Borrowers that have completed 2 or more Ground Up Construction projects in the last 3 years. Brand new Construction Investors will not qualify for this program. One suggestion I will offer is for a "new" or newer Construction Investor to partner with your chosen General Contractor or Builder so that you may use their experience to get you approved. This strategy works but you will have to be actual partners on the transaction and both parties would have to qualify. Obviously if you are already experienced in these projects then you have no worries and will qualify on your own.
We are a Correspondent Lender offering financing in 44 states across America! Funding is available right here, right now. If you are interested in financing Ground Up Construction, just send an email to monty.yeager@seniorcommercialcapital.com. I am here to answer any questions you have. I don't get paid unless you do so let's work together to finance your Ground Up Construction project.
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