Ground Up Construction Loans
Ground Up Construction Loans
When the bank lets you down
We Save The Day!
Ground Up Construction Loan Program
- 1.For an experienced builder or developer who is looking to capitalize on a new project without waiting on bank financing
- 2.A contractor who owns entitled or shovel ready land but needs the financing to get the project started
- 3.A fix & flip project that has extensive rehab requiring vertical additions or significant horizontal additions to the property
At Hard Money Loan Lender, our Ground Up Construction loans close very quickly… in as little as 17 days at rates starting at 7.99%!!
Our construction loans require very little documentation instead the underwriting is primarily based on the risk of the project itself! Our Ground Up Construction loans are a great way to acquire property to build a single family spec home or multi-family development.
Ground up construction program provides you with the ability to close quickly by using a reliable & experienced lender as your financing partner documentation!
Program Summary
| Loan Amount: | $250,000 – $50 Million |
| Term Length: | 6 – 36 months |
| Max LTV: | Up to 75% |
| Max LTC: | Up to 85% |
| Amortization: | Interest only |
| Interest Rate: | Starting at 7.99% |
| Closing Time: | 17 Days |
| Loan Use: | Purchase, refinance, cash-out, Construction on Entitled or Shovel Ready Land |
Pro's About Ground Up Construction Loans:
- Quick Closing in 7-14 Days
- Low Rates Starting at 7.99%
- Interest-only payments
- Minimal Income Documentation
- No Occupancy Requirement
- Qualify Based on the Property LTV, Liquidity, & Experience
What Do I Need To Qualify?
- Simple... Experience & Equity in the property!
- Origination Fee: 1.50% + of the loan amount
- Prepayment Penalties: None! (3+ months of minimum interest earned)
Eligible Properties for Commercial Bridge Loans
Single Family
Single Family is classified as one to four-unit residential use dwellings including condominium, P.U.D., townhomes, duplex’s, triplex’s, and quadplex’s. At www.HardMoneyLoanLender.com, we will lend to real estate investors and entities looking to purchase, refinance, fix & flip, or buy to rent from $250,000+.
Mixed Use
Mixed-use blends residential and commercial uses into one integrated complex or building. At HardMoneyLoanLender.com, we will lend to real estate investors in the following scenarios: purchase, refinance, bridge to stabilization, bridge to sale, cash out refinance or bridge to construction take out on mixed use projects with loan amounts from $250,000+.
MultiFamily Multifamily Value Add
Multifamily is a classification of housing where multiple units (5+ units) for residential use are contained within one or more buildings within one community or complex. At www.HardMoneyLoanLender.com, we will lend to real estate investors looking to purchase or refinance multi-family properties with loan amounts of $250,000+.
Ground Up Construction Loans
For Builders, Developers, Investors and Home Buyers. Ground up construction loans from a single family spec home to a 1500 unit Planned Unit Developments (PUDs).
New programs allow individual borrowers to provide construction draws to their builders for owner occupied homes.
Required Documents for Closing
-
Property
Documents
- Purchase Contract
- Payoff Statement (if Refinance)
- Plans & Permits
- Sources & Uses of Funds
- Scope of Work
- Appraisal & Feasibility Report
-
Personal
Documents
- Loan Application (Download)
- Track Record (Download)
- General Contract Resume
- Last 3 Months of Bank Statements
- Driver’s License (Front & Back)
- Passport/Visa (if Foreign National)
-
Business
Documents
- Articles of Incorporation
- Operating Agreement (LLC) or Bylaws (Corp.)
- EIN Letter
Loan Fees and Costs
- Origination Fee: 1.50% +
- Processing Fee: Based on the Project Size
- Underwriting Fee: Based on the Project Size
Prepayment Penalties
- None! (3+ months of minimum interest earned)
Is a Hard Money Loan Right For Me?
Need to close fast? Hard Money Loans are a great fit!
Benefits of our Ground-Up Construction Loans:
- Close in as little as 17 Days
- Up to 85% LTC
- Minimal Income Documentation
- Low Credit Requirement
- No Prepayment Penalty
Approval Process
Close in as little as 3-7 Days with 5 easy steps!
Step
1
Submit Loan Request
Step
2
Upload Documents & Accept LOI
Step
3
Valuation & Title Ordered
Step
4
Final Legal Review
Step
5
Closing
Ground Up Construction Loans Made Easy! Apply Here! For more information on Fix and Flip Bridge Loans Click Here!