100% Financing For Qualifying Fix and Flip Deals
For Non-Owner-Occupied Residential Property
Ground Up Construction Loans
For non owner occupied real estate investments
Competitive financing for acquisition, development and construction loans for builders and developers.
Basic Loan Details:
- Up to 85% of Project Cost – land & development
- 12-24 Month Term – Interest Only
- Up to 75% Loan to Purchase, 100% development cost not to exceed 75% ARV
- Loans from $250k to $10M
- Nationwide Footprint
- Fast approvals and funding since we are not a bank
- Minimum Experience – 2 + deals completed
- 1-100 Units
PROPERTY TYPES
That Can Be Financed:
Multi Family
SFR
Town homes
PROGRAM REQUIREMENTS:
Borrower/Sponsor
- Resume / Summary of experience showing 2+ previous completed deals
- Personal Financial Statement
Project Info: New Construction / Condo Conversion
- Project Summary
- Exit Strategy (Sell / Rent)
- Plans and Drawings
- Detailed Budget
- Hard Costs (labor, materials, etc)
- Soft Costs (plans, permits, interest, etc)
- Project Estimated P&L (if to be sold)
- Is the deal gross margin at least 20%?
- Proposed Timeline (Permit Phase, Construction Phase, Marketing Phase, Sellout Phase)
- Construction company / GC Bio
- Borrower Provided Comps
Rates & Terms
Residential Ground Up Construction (Purchase and Refinance):
Guildelines |
Criteria |
|---|---|
| Minimum Loan | $250,000 |
| Maximum Loan | $10,000,000 |
| Maximum LTV | 75% of purchase price 100% of rehab 75% of ARV 85% Loan to Coast |
| Purpose | Purchase Refinance |
| Lien Position | 1st only |
| Terms | 12-36 months |
| Location | Nationwide |
| Interest Rates | Starting at 10%+ |
| Rehab Holdback | Only incurs interest as the monies are drawn upon |
| Origination Fees | 2+ points |
| Amortization | Interest only |
| Recourse | Recourse |
| Entity | Entity |
| Property Types | Single Family 2-4 Units, up to 100 units now available |