New Construction Financing w/ Delayed Interest on Hold Back

[Sean Richway]

We are rolling out our New Construction Core Lending Program targeted for developers or real estate investors looking to build new construction homes or complete tear downs.  Below is an overview of the program offering:

New Construction Core Lending Program

-50% of acquisition on the lot or existing building if it is a tear down
-100% of construction costs
-11-12% interest rate
-2-4 points
-6-18 month term
-Up to 70% of the completed value
-Holdback on construction does NOT incur interest until the monies are drawn on, similar to a LOC where you pay as you draw

Feel free to reach out with any questions or projects you currently have and we will be happy to review them.