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Construction Lending


Property Types: *****Program Has Been Suspended*****
Investment Amounts:
Terms: 12-36 Months
Ammortization: Interest Only
Minimum DSCR: 1.25 - 1.50X
Maximum LTC: 90% (Primary Markets)
85% (Secondary Markets)
Recourse: Subject to project quality and sponsorship strength
Rate Benchmark: Prime
Margin: 100 - 300 basis points
Geographic Location: Nationwide
Closing: Borrowing Entity- Single Purpose Entity required
Prepayment- open
Escrows- Required for Taxes and Insurance
Sponsorship: Previous experience in asset type required.
Sponsorship Liquidity: Minimum of 10% of project costs.
Third Party Reports:

Phase I - Environmental Survey
MAI Appraisal

Application Fee: None
Funding: 45 days from complete due diligence package




 

 

 

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