Owner Occupied Construction Loan Prog. 1

  • 4.125% @ 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.
  • 4.328 APR*
  • 30 Year Fixed, with the first 12 or 18 months interest only on the amount drawn.  Qualify at the start rate.
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Owner Occupied Construction Loan Prog. 2

  • 3.625% @ 1 point,  Lending off “as completed” appraisal 1 year after property ownership.  80% TO $2,000,000 loan amount. 
  • 4.312% APR*
  • 5/1 ARM (fixed 5 years), 80% to $2M and 70% to $3M and 60% to $4M.
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Construction Loan Prog. 3 for Rental Properties

  • 5.0%% @ 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.
  • 5.487% APR*
  • 5/1 ARM (Fixed 5 years)  80% to $1,500,000  
  • Using 75% of market rents on the rental units to help qualify.  Add .5% to points for 2-4 units.  
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Multi Family Construction Loan Prog. 4

  • 5.75% @ 1.5 points for 18 months variable.  This is 3.50% over the 1 month LIBOR (London Interbank Offered Rate).  Current 1 month LIBOR less than 2.25%.  Multifamily loans $20M+ would be 1% LOWER IN RATE with only 25% recourse.  This is market leading.
  • 6.279% 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

  • 5.75% @ 1.25 points for 15 months, construction loan only, for SPEC financing where the exit strategy is to sell the property. Experienced builder/developers.
  • 6.646% 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.
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Call for an owner builder program which is limited to construction industry borrowers.  Call for construction loans for manufactured housing, and mixed use.   BROKERS WELCOME ON ALL PRODUCTS. 

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