Préstamo para
Construccion
Los préstamos para nueva construcción son préstamos a corto plazo que se utilizan para financiar la construcción o renovación de una vivienda o un proyecto inmobiliario. El sorteo inicial se calculará en función del valor tal como está de la propiedad y el presupuesto de renovación se adelantará en los sorteos de construcción.
Términos de financiamiento
‣ Max Loan Amount: $5,000,000
‣ Max LTC/ARV (Loan to Cost / After Repaired Value): The Lesser of 90% LTC or 70% ARV
‣ Rates: Starting at 9%
‣ Land purchase or refi up to 75% LTC
‣ Can include soft costs
‣ Can close before permits are approved or even requested
‣ Draws requests done by phone app, paid an average of 48 hours
‣ Term of loan: 12 months (with option to extend up to 24 months)
‣ Payment: Monthly Interest Payments with Balloon at Maturity
‣ Prepayment penalty: None
‣Minimum credit score required: 600
‣ Closing time: 3 to 4 weeks on average
‣ Option with no liquidity requirement or minimum equity coverage.
Requisitos
‣ Credit Application filled and signed to run a credit and background check
‣ Last 3 bank statements (Of a US bank account)
‣ Copy of ID
‣ Copy of Borrowing Entity documents
‣ Purchase Contract (If the loan entails purchase)
‣ Project budget / Scope of work
‣ Approved plans (If applicable)
‣ Track Record Sheet
‣ Contractor's information
‣ Property Insurance.