Owner Occupied Construction Loan Prog. 1

  • 7.125% @ 1 point, 7/1 Jumbo ARM 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.  This allows a highly leveraged transaction.
  • 7.479 APR*
  • During 12 or 18 months construction this loan is interest only on the amount drawn.  Qualify at the start rate.  We will use a rent survey on your current house to partially or completely eliminate that payment in your debt ratios so you don’t have to qualify carrying two payments.   50% debt ratios.
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Owner Occupied Construction Loan Prog. 2

6.875% @ 1 point,  30 Year fixed.  Lending off “as completed” appraisal 1 year after property ownership on rehab/addition.  On ground up, lending off the lesser of LTC (loan-to-cost) or LTV (loan-to-value).   Can go up to 55% debt ratios with $9000/month in disposable income (gross monthly income minus all monthly obligations). 

  • 7.097% APR*
  • 80% to $2M, 70% to $3M, 65% to $4M, 60% to $5M, 55% to $20M.
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Construction Loan Prog. 3 for non-GCs acting as their own GC

  • 7.75%% @ 1.75 points,  Unique single close construction loan for those in the construction industry (e.g., architect, foreman for someone else’s construction company, electrical contractor, project manager, etc.) to act as their own general contractor when clearly building their own primary residence).  80% of the “as completed” appraised value as early as one day after the vacant lot or tear down purchased.
  • 7.965% APR*
  • 10/1 jumbo ARM  
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Multi Family Construction Loan Prog. 4

  • 9.50% @ 1.5 points for 18 months (variable at 1% over Prime Rate)
  • 9.931% APR*
  • Up to 75% LTC (loan-to-cost) when 65% LTV (loan-to-value) depending on the loan amount.
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SPEC Construction Loan Prog. 5….Market Leading

  • 9.0% @ 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% variable with the Prime Rate.   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.
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Call for construction loans on agricultural land and large acreage. BROKERS WELCOME ON ALL PRODUCTS. 

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