New Construction Loan
Our Construction Loans provide builders and investors the financing they need for ground-up construction and land acquisition.
Key Facts about our New Construction Loans*
- Program includes Line of Credit and Single Loan options
- Construction loans offer funding up to 90% of construction costs with multiple draws available**
- Land advances available up to 75% of land value***
- Individual loan amounts $75K – $3MM
- Loans available for single family and multi-family properties, including properties up to 30 units
Interest Rate 6.99% and up
Term 12 months, with optional 3 month extension
Borrower Type Individual, LLC, Corporation, LLP or LP
Maximum Loan to Cost
Cost is construction costs, not including land acquisition. 90% of construction costs
Maximum Land Acquisition Financing 75% of land value***
Transaction Type Purchase or Refinance
What Makes this Product Stand Out?
- Product works for developers and investors alike
- Option to include land acquisition financing***
- Multiple draws available at borrower’s discretion**
Darin Daniels
Upstreet Financial