New Construction Loan

Ground-up construction financing for builders and investors

Get Started with a New Construction Loan

Our Construction Loans provide builders and investors the financing they need for ground-up construction and land acquisition.

Key Facts about our New Construction Loans*

  • Program includes Line of Credit and Single Loan options
  • Construction loans offer funding up to 95% of construction costs with multiple draws available**
  • Land advances available up to 75% of land value***
  • Individual loan amounts $150K – $3MM
  • Loans available for single family and multi-family properties, including properties up to 20 units
Interest Rate

6.99% and up

Term

12 months, with optional 3 month extension

Borrower Type

Individual, LLC, Corporation, LLP or LP

Maximum Loan to Cost
Cost is construction costs, not including land acquisition.

95% of construction costs

Maximum Land Acquisition Financing

75% of land value***

Transaction Type

Purchase or Refinance

What Makes this Product Stand Out?

  • Product works for developers and investors alike
  • Option to include land acquisition financing***
  • Multiple draws available at borrower’s discretion**
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*Loans are subject to investor and business credit approval, appraisal and geographic location of the property and other underwriting criteria. Loan amounts and rates may vary depending upon loan type, LTV, verification of application information and other risk based factors. Application fees, closing costs and other fees may apply.
**Inspection fees apply per inspection.
***Land must be already improved/developed for use (i.e., ready for utilities and plumbing.) All applicable building permits must be submitted; if building permits not submitted, funding limited to 60% of lower of land value or purchase price.