Non Recourse single family housing construction financing program for development projects in California, Nevada, New Mexico, Oregon, Washington, Colorado, Utah, Arizona and Texas loan amounts 8,000,000 and above. Pre-sales are NOT a requirement but the land must be fully entitled and ready to begin construction with all approvals in place. 75% loan to cost which means the principals have to be bringing in at least 25% of the total project costs into the deal. It is preferable that you own the land and that you own it free and clear but this is not a hard and fast rule.