Owner Occupied Construction Loan Prog. 1
- 6.125% @ 1 point, 30 Year Fixed single close construction loan. Lending off the “as completed” appraised one day after owning the vacant lot or current home to be rehabbed or torn down.
- 6.472 APR*
- 30 Year Fixed, with the first 12 or 18 months interest only on the amount drawn. Qualify at the start rate.
- click for details
Owner Occupied Construction Loan Prog. 2
- 5.875% @ 1 point, Lending off “as completed” appraisal 1 year after property ownership. 80% TO $2,000,000 loan amount.
- 6.312% APR*
- 7/1 ARM (fixed 7 years), 80% to $2M and 70% to $3M and 60% to $4M.
- click for details
Construction Loan Prog. 3 for Rental Properties
- 7.5%% @ 1.75 points, Unique single close construction loan for a rental property 1-4 units. 80% of the “as completed” appraisal one day after the vacant lot or tear down purchase.
- 7.91% APR*
- 7/1 ARM (Fixed 7 years) 75% to $1,500,000
- Using 75% of market rents on the rental units to help qualify. Add .5% to points for 2-4 units.
- click for details
Multi Family Construction Loan Prog. 4
- 7.250% @ 1.5 points on a 5/1 ARM fixed 5 years.
- 7.931% APR*
- Up to 75% LTC (loan-to-cost) when 65% LTV (loan-to-value) depending on the loan amount.
- click for details
SPEC Construction Loan Prog. 5….Market Leading
- 8.75% @ 1.25 points for 15 months, construction loan only, for SPEC financing where the exit strategy is to sell the property. Experienced builder/developers.
- 9.646% APR*
- Up to 80% loan-to-cost. This is Prime + .5% fixed with the Prime rate used being what it was at funding. When Prime goes up during construction, this loan stays fixed. Brokers welcome. Loan amounts under $400,000, add .25 points to fees. 18 months only 1.5 points, and if in and out in 15 months, you get .25 points back.
- click for details
* APR (Annual Percentage Rate) based on $500,000 loan amount, or program minimum loan amount.