Spec Construction Loan.
Prime + .5% for 15 months @ 1.25 points.  80% loan-to-costs when 60% loan-to-value for experienced builders/developers.  Loan amounts to $20M.  Still at 80% LTC, but may be at lower LTV for higher loan amounts.   Full recourse.   Brokers welcome.  Reasonable fees and fund control costs.  Quick term sheet turnaround.  Note:  The construction rate is fixed at Prime plus .5% using what Prime was when the loan funded.  Other Prime based spec construction loan rates go up when Prime goes up.

Generally not looking at global cash flow (similar to calculating debt ratios) as many banks do.  We will give you currently land value after 4 to 6 years, unlike many banks who work off a hard loan-to-cost (using actual lot price).


Fees, points, and program parameters subject to change without notice.