New Construction Loan
New construction loans are available to experienced builders looking to build spec homes to be sold on the open market. Builders often run into limits with traditional constructions loans from the local banking community and this program allows them to keep the growth of their business moving upward.
Property Types:
Residential
Markets:
Houston
Loan Amounts:
$100K+
Term
Up to 12 months
Amortization:
Interest-only
Rate:
TBD
Fees:
TBD
LTV:
Up to 70%
LTC:
Up to 90%
Qualifying:
TBD
Recourse:
Yes
Prepay penalty:
No
CLTV:
Up to 90%
Escrows:
All construction funds
Credit Score:
TBA
FAQs
Will you lend funds to purchase the land?
Yes, we provide loans for both acquisitions and construction funds.
If you own the land free & clear, does that count as equity?
Yes.
Is this loan program available for primary residences?
No, we will only lend on investment new construction projects.
FAQs
Will you lend funds to purchase the land?
Yes, we provide loans for both acquisitions and construction funds.
If you own the land free & clear, does that count as equity?
Yes.
Is this loan program available for primary residences?
No, we will only lend on investment new construction projects.
