Ground Up Construction
Loan Program

We Say YES ,
When The Bank Says No!

Ground Up Construction Loan Program

A “Ground Up Construction” loan program is designed to provide a streamlined financing solution to build single family, multi-family, and mixed use projects which are entitled or shovel ready. A Ground Up Construction loan is a great fit in the following situations:

  • 1.For an experienced builder or developer who is looking to capitalize on a new project without waiting on bank financing
  • 2.A contractor who owns entitled or shovel ready land but needs the financing to get the project started
  • 3.A fix & flip project that has extensive rehab requiring vertical additions or significant horizontal additions to the property

At Loan Workout Group, our Ground Up Construction loans close very quickly… in as little as 17 days at rates starting at 9.49%!! Our construction loans require very little documentation instead the underwriting is primarily based on the risk of the project itself! Our Ground Up Construction loans are a great way to acquire property to build a single family spec home or multi-family development. Our ground up construction program provides you with the ability to close quickly by using a reliable & experienced lender as your financing partner.

Program Overview

Loan Amount:$250,000 to $150 Million
Term Length:6 – 36 months
Max LTV:Up to 75% 
Max LTC:Up to 80% 
Amortization:Interest only
Interest Rate:Starting at 9.49%
Closing Time:17 Days
Loan Use:Purchase, refinance, cash-out,
Construction on Entitled or Shovel
Ready Land

Speak to Financial Advisor +1 – 786-863-8686

Pro's About Ground-Up Loans:

What Do I Need To Qualify?

  • Simple… Experience & Equity in the property!
  • Origination Fee: 1.50% + of the loan amount
  • Prepayment Penalties: None! (3+ months of minimum interest earned)

Eligible Properties for Ground-Up Construction Loans

Single Family

Single Family is classified as one to four-unit residential use dwellings including condominium, P.U.D., townhomes, duplex’s, triplex’s, and quadplex’s. At Loan Workout Group, we will lend to real estate investors and entities looking to purchase, refinance, fix & flip, or buy to rent from $100,000+.

Mixed Use

Mixed-use is a type of development that blends residential and commercial uses into one integrated complex or building. At Loan Workout Group , we will lend to real estate investors in the following scenarios: purchase, refinance, bridge to stabilization, bridge to sale, or bridge to construction take out on mixed use projects with loan amounts from $250,000+.

Multi Family

Multi-family is a classification of housing where multiple units (5+) for residential use are contained within one or more buildings within one community or complex. At Loan Workout Group, we will lend to real estate investors looking to purchase or refinance multi-family properties with loan amounts of $250,000+.

Ground Up Construction Loan Program FAQ’s

The following property types are eligible for our ground up construction loan program:

  • Multifamily
  • Mixed Use
  • Single Family

Note: Land must be entitled or shovel ready*

Our construction loans feature rates starting at 9.49% interest only. All rates are based on three main factors: Loan to Value (LTV); Sponsor or Guarantor Experience and Creditworthiness; and the overall risk & location of the property.

We have a minimum loan amount of $500,000 and a maximum loan amount up to $150 Million (However exceptions are granted for low LTV properties that exceed or fall below those requirements)

We lend on commercial properties Nationwide except for Nebraska, Alaska, Minnesota, North Dakota, and South Dakota. We have a strong presence and prefer properties in Florida, Texas, Georgia, and the Northeast.

660 Typically. However, If you fall below we can grant an exception based on the overall project risk.

Yes. We prefer properties to be owned in a SPE (single purpose entity).

Required Documents for Closing

  • Purchase Contract
  • Payoff Statement (if Refinance)
  • Plans & Permits
  • Sources & Uses of Funds
  • Scope of Work
  • Appraisal & Feasibility Report
  • Loan Application (Download)
  • Track Record (Download)
  • General Contract Resume
  • Last 3 Months of Bank Statements
  • Driver’s License (Front & Back)
  • Passport/Visa (if Foreign National)
  • Articles of Incorporation
  • Operating Agreement (LLC) or Bylaws (Corp.)
  • EIN Letter

Is a Ground-Up Construction Loan Right For Me?

Need to close fast? You can count on us!

Benefits of our Ground-Up Construction Loans:

  • Close in as little as 17 Days
  • Up to 85% LTC
  • Minimal Income Documentation
  • Low Credit Requirement
  • No Prepayment Penalty

Speak to Financial Advisor +1 – 786-863-8686

Loan Fees and Costs

  • Origination Fee: 1.50% – 3.00%
  • Processing Fee: Based on Project Size
  • Underwriting Fee: Based on Project Size

Prepayment Penalties

None! (3+ months of minimum interest earned)

Don’t let financing hold you back from a great Investment opportunity, we will fund your project with one of our many loan options, credit or not!