Ground Up

Maximum Loan-To-Cost

Up to 75% of the lower of land value or purchase price/60% if unpermitted, plus 100% of construction

Max 85% of total project costs

LTC Catch Up Draw to raise initial advance to 75% at approval of required plans/permits post-closing

Maximum Loan-To-ARV

Up to 70%

Recourse

Full Recourse

Reserves/Escrows

Interest Reserve:

Minimum 1 month

Experience

Previous real estate experience required: 1-2 ground ups

GCs if experience if permits tie to ground ups

Guarantors with no experience permitted on a case by case basis

Loan Amount

Min: $50,000

Max: $3,000,000

Term Length

12 months, Up to 18 at Lender discretion

Property Count

Min: 1

Max: 2

Permitted Property Types

Eligible:

Non-owner occupied 1-4 unit residential

Townhomes

Condos

Ineligible:

Mixed use properties

5+ unit multifamily properties

Condotels

Co-ops/TICs

Commercial property

Log Homes

Properties subject to oil and/or gas leases

Operating farms, ranches, or orchards

Vacation or seasonal rentals

Rural properties

Maximum Loan-To-Cost

Up to 75% of the lower of land value or purchase price/60% if unpermitted, plus 100% of construction

Max 90% of total project costs with financed IR, 85% of total project costs without financed IR

LTC Catch Up Draw to raise initial advance to 75% at approval of required plans/permits post-closing

Maximum Loan-To-ARV

Up to 70%

Recourse

Full Recourse

Reserves/Escrows

Interest Reserve:

Minimum 1 month

Experience

Previous real estate experience required: 3+ similar ground-up builds + heavy rehabs with expansion. Professional development / builder.

Guarantors with no experience permitted with experienced guarantor that meets the above experience criteria

Loan Amount

Min: $50,000

Max: $3,000,000

Term Length

12 to 24 month loan terms available

Property Count

Min: 1

Max: 10

Permitted Property Types

Eligible:

Non-owner occupied 1-4 unit residential

Townhomes

Condos

Ineligible:

Mixed use properties

5+ unit multifamily properties

Condotels

Co-ops/TICs

Commercial property

Log Homes

Properties subject to oil and/or gas leases

Operating farms, ranches, or orchards

Vacation or seasonal rentals

Rural properties