Interest Rates from 6.99%-9%.  IO Payments!

Please know for Construction Financing:

We fund 60% land acquisition without permits

We fund 75% land acquisition with permits in hand

We fund 95% hard costs to build (no soft costs which include but are not limited to plans, specs, permits, grading, soils testing, architect, engineering)

We fund 75% LTV/ARV

We will fund the lower of the two land acquisition + hard costs to build OR LTV/ARV whichever is lowest

Please know:

Construction financing for Recourse is funded as follows:

We will fund the acquisition to escrow

We will fund the hard costs to build to a 3rd party fund controlled account for you to draw against as you “complete” your build based off of each line item on your budget

You will call Granite which is the 3rd party inspector once you have completed portions of your budget and are ready for your inspection and release of some funds. Please note; you must have line item 100% completed in order to receive the 100% of that line item draw

You will be charged interest payments on the entire funding “Acquisition + Hard Costs to Build”. We do not do balance accrual at this time.

You have 12 months to complete the spec build. You are eligible for two (2) three month extensions at a 1 point cost each upon review of your file

Please note you will fund your initial hard costs we will reimburse work completed

Please know for Fix & Flip:

Rehab Fix & Flip Recourse

We fund up to 90% acquisition

We fund up to 95% rehab budget

We fund 75% LTV/ARV

We will fund the lower of the acquisition + rehab OR LTV/ARV whichever is lowest

You will call Granite which is the 3rd party inspector once you have completed portions of your budget and are ready for your inspection and release of some funds. Please note; you must have line item 100% completed in order to receive the 100% of that line item draw

You will be charged interest payments on the entire funding “Acquisition + Hard Costs to Build”. We do not do balance accrual at this time.

Please note you will fund your initial hard costs we will reimburse work completed

Please know for Fix & Flip and New Construction:

Multi-Family/Mixed Use

We fund up to 80% acquisition

We fund up to 80% rehab

We fund up to 70% LTV/ARV

We will fund the lower of the acquisition + rehab OR LTV/ARV whichever is lowest

Please note: Multi-Family/Mixed Use properties will be constrained to a loan amount equal to the lower of calculated cash flow, cost or valuation requirements. Mixed use properties with average individual residential units valued greater than $250,000 per unit are not required to meet cash flow requirements, however are subject to cost and value requirements.

Please know:

All Borrowers Must Sign an ACH form with docs – funds automatically withdrawn from account for monthly IO payments on each transaction