A “Ground Up Construction loans 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:
At Loan Workout Group, our Ground Up Construction Loans Nationwide 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.
| Loan Amount: | $250,000 to $150 Million |
| Term Length: | 6 – 36 months |
| Max LTV: | Up to 75%Â |
| Max LTC: | Up to 80%Â |
| 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
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 is a type of development that blends residential and Commercial Bridge Loans 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 New Construction Loans take out on mixed use projects with loan amounts from $250,000+.
Multi family is a classification of housing where multiple units (5+) for residential Industrial Property Loans use are contained within one or more Loans for Building Real Estate 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+.
The following property types are eligible for our ground up construction loan program:
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).
Benefits of our Ground-Up Construction Loans:
Speak to Financial Advisor +1 – 786-863-8686
None! (3+ months of minimum interest earned)
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