Construction Loans
All types of Construction loans available.

*LOAN PROGRAMS ARE BEING UPDATED. SOME PROGRAMS HAVE CHANGED OR NO LONGER AVAILABLE. PLEASE INQUIRE HERE.

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Residential

Property - SFR stick-built only. Appraisal based on maximum five acres with close, recent and similar sold comparables; non-rural.- Loan limits $50K to $400K - Credit scores - Use the lowest mid-score of applicants. Five year seasoning on all BK’s. No reporting foreclosures, short sales or deeds in lieu. Terms- All loans for construction term only, not permanent. Interest-only payments based on gross loan amount, due monthly. Subject to - Builder approval. Construction budget approval. General notes - No land payoff. Add .5%+ to fee for debt subordination (approved case-by-case). Lot must be free and clear. Stated income available for spec builders only. Call for details. 4506 tax form required for all programs. Call for details. Construction completion projects reviewed case-by-case only; if approved, broken priority fee is typically $3,000.

Code:BSMK1965

Loan Parameters For Construction

• Loan Size: $200,000 to $50,000,000+ | Term: 1-3 Years | Lending Area: CA (Nationwide Case by Case) • Property Type: Residential and Commercial | Interest Rates: 10%-14% | Amortization: Interest Only • Loan to Costs: Up to 80% | Interest Reserve: 1-2 years (Should be Factored into the Loan Amount) • Origination Fee: 4%-6% Taken at Closing From the Loan Proceeds | Closing Terms: Closings in as Quick as 14 Business Days

Code: BLCON101

Types of Properties

Spec Construction, Owner Occupied Builder, or Investor Rehab Flipper Residential/Multi-Family/Commercial Property unfinished or under construction with approved plans .

Types of Borrowers / Purpose

Owner Occupied and Non-Owner Occupied | Exit Strategy at your discretion: Refinance, Occupy or Sell the property upon completion | Purchase Money + Construction Refinance + Construction | Cash out to Construction |Ground Up Construction.

Loan Terms

Construction and Rehab Loan LTV up to 65% of future value | Construction loans up to $4.5 million NET for ground up or construction completion | Loan decision based on future appraised value not purchased value | Loan decision based on the quality of the project | Reasonable Construction Periods | Flexible Disbursal Schedule No Prepayment Penalties | Non-FICO driven | INTEREST RESERVE OK

Code: FMCONk87

CONVENTIONAL LOANS

($2 MM minimum loan amount No Maximum)

Up to 80% LTV (*Completed Value not cost) | Senior Living and Assisted Living facilities | Others – Contact us for details

Rehab -Up to 65% ARV (*Completed value not cost) | Sr. and ALF | Multifamily | Hotels and Motels Must be flagged / Full service only | Terms- 12 months to 25 years

• Interest only during construction / Amortization after completion | Geographic Locations / Major metropolitan areas in US only | Loan Type – Structured as first loan | Monthly Draw |* Loan amounts based on pro-forma stabilized value .

Code: NCPCON13V