Ground Up – Loan Criteria

Ground Up

New construction financing for non-owner occupied residential investment properties.

Loan Term

  • 12 months
  • Up to 18 months at lender discretion

Loan Amount

  • Minimum: $50,000
  • Maximum: $3,000,000

Maximum Leverage

  • Up to 75% of the lower of land value or purchase price (60% if unpermitted)
  • Plus 100% of construction
  • Max 85% of total project costs LTC
  • Up to 70% Loan-to-ARV

LTC Catch-Up Draw

  • Initial advance can be raised to 75% upon approval of required plans/permits post-closing

Recourse & Reserves

  • Full Recourse
  • Interest Reserve: minimum 1 month

Experience Requirement

  • Previous real estate experience required: 1–2 ground ups
  • GCs accepted if permits tie to ground-up experience
  • Guarantors with no experience permitted on a case-by-case basis

Eligible Property Types

  • Non-owner occupied 1–4 unit residential
  • Townhomes
  • Condos

Ineligible Property Types

  • Mixed-use properties
  • 5+ unit multifamily properties
  • Condotels
  • Co-ops / TICs
  • Commercial property
  • Log homes
  • Properties subject to oil and/or gas leases
  • Operating farms, ranches, or orchards
  • Vacation or seasonal rentals
  • Rural properties

State Restrictions

  • At this time, we are unable to lend in Nevada, North Dakota, Oregon, South Dakota, Utah, and Vermont