Construction Loans

  • Construction Loan Prog. 1
  • 3.875% @ 1 point, Lending off the “as completed” appraised value 6 months after owning the lot.
  • 3.933 APR*
  • 10/1 Year ARM (fixed 10 years).  Qualify at the start rate.
  • Construction Loan Prog. 2
  • 4.50% @ 1 point,  HIGH ASSET QUALIFYING WITH ASSET DEPLETION CALCULATIONS
  • 4.592 APR*   $1,000,000 LIQUID ASSETS RESULTS IN $25,000/MONTH INCOME.
  • 7/1 ARM (fixed 7 years), 80% to $1M and 75% to $1.5M and 70% to $2M.
  • Construction Loan Prog. 3
  • 3.875% @ 1 points,  NEW: 4 years out of BK or Short Sale.
  • 3.387% APR*
  • 5/1 ARM (Fixed 5 years, 80% to $800,000, 75% to $1.0M, 70% to $2M)
  • NEW: Lending off “as completed” appraised one day after buying the vacant lot or the home to be remodeled.
  • Construction Loan Prog. 4
  • 4.125% @ 1 point, 90% to $625,500 with no mortgage insurance.  Call for 90% to $850,000 loan amount.
  • 3.689% APR*
  • 7/1 LIBOR ARM (fixed seven years)
  • SPEC Construction Loan Prog. 5
  • 5.25% @ 1.5 points construction loan only, for SPEC financing where the exit strategy is to sell the property. Max. 75% loan-to-cost.
  • 6.856% APR*
  • 80% loan-to-cost.  FLEXIBLE SPEC construction loans at 6.0% @ 2 points (8.42% APR*)
  • Construction Loan Prog. 6
  • Experienced “Modified Owner/Builder” Construction Loan with GC for some of the major work (utilities, concrete, framing, etc.)
  • 3.875% @ 1 point
  • 3/1 ARM, fixed 3 years.
  • 3.387% APR*, 100% loan-to-cost still possible if loan-to-value still under 80% to $1M, 75% to $1.5M, 70% to $2M, 60% to $3M.

* APR (Annual Percentage Rate) based on $500,000 loan amount.

Land Loans

Land Loan Prog. 1

  • 4.900% on 10/1 ARM @ 1.75 points
  • 4.842% APR*
  • Vacant rural/agricultural land

Land Loan Prog. 2

Not currently available

Land Loan Prog. 3

Not currently avaialble

Land Loan Prog. 4

Not currently available

* APR (Annual Percentage Rate)

Lot Loans

Lot Loan Prog. #1
5.000% on a 3/1 ARM (fixed 3 years)

4.386% APR*

1 point

80% to $300,000, 75% to $400,000, 70% to 500,000, 65% to $750,000.  By exception above $750,000.

Lot Loan Program #2
4.625% @ 1 points.  15 Year fixed fully amortized.  NEW: 5 years out of BK, FC, Short Sale OK

4.877% APR*   Not available in Southern California or immediate Bay Area.

80% to $500,000   Refinances OK….Limited to north of GG bridge, East Bay and Central Valley.

Lot Loan Program #3
5.75% @ 2 points on a 3/1 ARM (fixed 3 years), 15 year amortization.  NEW:  Structures other than complete single family residence OK.

6.121% APR*    UNLIMITED ACREAGE AND NO MAXIMUM LOAN AMOUNT

75% if the land or the lot has city water and sewer, or well report and perc. test.   65% if raw land.

Middle credit score as low as 680, and 4+ years out of a BK, FC or Short Sale OK.

Lot Loan Program #4
Not currently available.

*APR (Annual Percentage Rate) based on $300,000 loan.

FAQ

What is an “All-in-One” or a “Single Close” construction loan? Why is it a good idea?

A “single close” construction loan is also your permanent financing. It is not just an interim construction loan, which would require a “take out” loan refinance at the end of construction to put the permanent financing in place.

This “take out” loan would involve an additional set of closing costs, you would have to provide new income and asset documentation to qualify, and qualification would not be guaranteed. Read on »

About Us

California Construction LoansSince 2000 we have specialized in construction loans, lot loans, and vacant land loans in the Western United States. We do single close construction loans for ground up construction starting with a vacant lot or a tear down, as well as single close construction loans for rehab, remodel and additions.

Most construction loan programs are for owner occupied single family residences, or owner occupied duplexes. Lot loans are for vacant parcels zoned for 1 to 2 units. Vacant rural/agricultural land loans are available in most states. In California, we also do loans for commercial and multi-family construction. Spec loans are available in some parts of California.