What Are New Construction Loans?
New Construction Loans provide builders and developers with the capital needed to fund ground-up construction projects. These loans cover the cost of land acquisition, materials, and labor, ensuring that construction progresses smoothly without financial delays. Whether you’re building single-family homes, multi-unit developments, or commercial properties, our New Construction Loans offer the financial backing to bring your vision to life.
Key Features:
- Loan Amount: $400,000 – $1,000,000
- LTV: Up to 75% of construction costs
- Interest Rates: 9% – 14%
- Loan Term: 12 to 36 months
- Draw Schedule Based on Project Milestones
Benefits:
- Funds disbursed as construction progresses
- Covers hard construction costs
- Interest-only payments during construction
Eligibility Requirements:
- Experienced developers preferred
- Approved construction plans and permits