Ground-Up Construction Financing
Product Overview
This program is designed for builders and investors seeking short-term financing for ground-up residential construction. It supports both experienced builders and first-time spec projects, with fast closings and flexible leverage based on borrower experience and credit profile.
Operational Notes
- In-house capital through direct private lender
- Lending available nationwide in urban and suburban areas
- Fast draw process, potentially within 24 hours
- Beginner builders eligible
Best Use Cases
- Spec home construction
- Investor new builds
- Builder inventory expansion
- Borrowers needing faster execution than conventional construction lending
Financing Matrix
Tier 1
- 700+ FICO: 90% Total LTC | 75% Initial LTC | 70% LTARV
- 660 to 699 FICO: 90% Total LTC | 75% Initial LTC | 70% LTARV
- 640 to 659 FICO: 85% Total LTC | 75% Initial LTC | 70% LTARV
Tier 2
- 700+ FICO: 85% Total LTC | 75% Initial LTC | 70% LTARV
- 660 to 699 FICO: 85% Total LTC | 70% Initial LTC | 70% LTARV
- 640 to 659 FICO: 80% Total LTC | 70% Initial LTC | 70% LTARV
Tier 3
- 700+ FICO: 80% Total LTC | 70% Initial LTC | 70% LTARV
- 660 to 699 FICO: 80% Total LTC | 70% Initial LTC | 70% LTARV
- 640 to 659 FICO: 65% Total LTC | 65% Initial LTC | 65% LTARV
Tier 4
- 700+ FICO: 80% Total LTC | 60% Initial LTC | 65% LTARV
- 660 to 699 FICO: 75% Total LTC | 60% Initial LTC | 65% LTARV
Product Summary
- Loan Purpose: Purchase, Rate-Term Refinance, and Construction
- Property Types: Single Family, 1 to 4 Unit Residential, Condos
- Loan Amounts: $150,000 to $3,500,000
- Minimum Credit Score: 640+
- Term: 12 to 24 Months
- Rates: As low as 10.99%
- Prepayment Penalty: None
- Estimated Closing Time: 7 to 10 Days