Which lender has the best LTV LTC coverage on SFR new construction?

Mortgage Brokers & Lenders
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Which lender has the best LTV LTC coverage on SFR new construction?

Jace Perry
Investor · FL · Member since 2017 · 134 posts · 66 votes

Which lender has the best LTV LTC coverage on SFR new construction? Looking to broaden my network of lenders.

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Nate HerndonPro Member
Lender · Springfield, MO · Member since 2023 · 277 posts · 195 votes
1y
Quote from @Jace Perry:

Which lender has the best LTV LTC coverage on SFR new construction? Looking to broaden my network of lenders.


Hey Jace, the program that I utilize most frequently for my clients includes the closing costs in the LTC calculation, so that helps a little - and they will finance 85% of the project.

• 85% LTC
• Closing costs financed
• Interest on drawn funds only
• Interest deferred until loan exit
• 18-month term

Hopefully that gives you a better idea of what's out there.

[email protected]417-605-2196
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  • Anish Patel
    Banker · Sarasota, FL · Member since 2016 · 28 posts · 3 votes
    1y

    Will Connect!

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  • Nate HerndonPro Member
    Lender · Springfield, MO · Member since 2023 · 277 posts · 195 votes
    1y
    Quote from @Jace Perry:

    Which lender has the best LTV LTC coverage on SFR new construction? Looking to broaden my network of lenders.


    Hey Jace, the program that I utilize most frequently for my clients includes the closing costs in the LTC calculation, so that helps a little - and they will finance 85% of the project.

    • 85% LTC
    • Closing costs financed
    • Interest on drawn funds only
    • Interest deferred until loan exit
    • 18-month term

    Hopefully that gives you a better idea of what's out there.

    [email protected]417-605-2196
    1Reply
  • Nate HerndonPro Member
    Lender · Springfield, MO · Member since 2023 · 277 posts · 195 votes
    1y

    For sure, would be happy to connect for a call. We broker for that program so I would be your best point of contact on obtaining a loan summary, next steps, etc. Will send you a quick DM.

    [email protected]417-605-2196
    1Reply
  • Erik EstradaBusiness Member
    Lender · Member since 2022 · 6k+ posts · 1k+ votes
    1y
    Quote from @Jace Perry:

    Which lender has the best LTV LTC coverage on SFR new construction? Looking to broaden my network of lenders.


    Usually 85 LTC is the max with the ability to finance some or all of the renovations if you have experience. Reserves and experience will be the key to get the higher LTC. 

    There are a handful of lenders that can do 90 LTC, however you need to have a lot of experience, has to be a cookie-cutter clean deal, and you also need to show cash reserves. 

    [email protected]818-269-7983
    LuxePrivate Investments LLC 572 Reviews
    WebsiteView Page
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    • Erik EstradaBusiness Member
      Lender · Member since 2022 · 6k+ posts · 1k+ votes
      1y
      Quote from @Jace Perry:
      Quote from @Erik Estrada:
      Quote from @Jace Perry:

      Which lender has the best LTV LTC coverage on SFR new construction? Looking to broaden my network of lenders.


      Usually 85 LTC is the max with the ability to finance some or all of the renovations if you have experience. Reserves and experience will be the key to get the higher LTC. 

      There are a handful of lenders that can do 90 LTC, however you need to have a lot of experience, has to be a cookie-cutter clean deal, and you also need to show cash reserves. 


       Why are you mentioning renovations when I am looking for ground up new construction?

       My apologies, 

      I typed a bit too fast LOL. Construction Budget. 

      [email protected]818-269-7983
      LuxePrivate Investments LLC 572 Reviews
      WebsiteView Page
      0Reply
    • Erik EstradaBusiness Member
      Lender · Member since 2022 · 6k+ posts · 1k+ votes
      1y
      Quote from @Jace Perry:
      Quote from @Erik Estrada:
      Quote from @Jace Perry:

      Which lender has the best LTV LTC coverage on SFR new construction? Looking to broaden my network of lenders.


      Usually 85 LTC is the max with the ability to finance some or all of the renovations if you have experience. Reserves and experience will be the key to get the higher LTC. 

      There are a handful of lenders that can do 90 LTC, however you need to have a lot of experience, has to be a cookie-cutter clean deal, and you also need to show cash reserves. 


       Why are you mentioning renovations when I am looking for ground up new construction?


       Here is a screenshot of the ground-up matrix. Experience and reserves are key. 

      [email protected]818-269-7983
      LuxePrivate Investments LLC 572 Reviews
      WebsiteView Page
      0Reply
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