5.75% @ 1.5 points for 18 months (variable). Call for longer terms.
6.279% *APR (annual percentage rate).
This loan is variable at 3.50% over the 1 month LIBOR (currently under 2.25%). For large projects with construction loans above $20M, lower the margin over the 1 month LIBOR by 1%, and then only 25% recourse.
Up to 75% LTC (loan-to-cost) when 65% LTV (loan-to-value) depending on the loan size. Brokers welcome.
Fees, points, and program parameters subject to change without notice.