We provide construction loans for apartment buildings, office buildings, retail spaces and shopping centers, conversion rehabs, and major renovations.
Minimum Loan Amount: $50,000
Maximum Loan Amount: $2,000,000
Terms: 6 months-36 months floating rate
Developer Equities Required: 25%-35%. Commercial spec. buildings with no pre-leasing require more equity. Depending on the developer’s assets, we can achieve a higher loan-to-value, if necessary.
Fees: 2 Points
Interest Payments: Interest will only be charged on the amount that has been drawn down
Construction Funding: Funding is released based on the percentage completed every month