100% LTC available

New construction and major renovation projects valued from $100,000 to $8,000,000+.

For professional builders wanting to optimize pricing and terms AND to lock things in for 5 years.

TERMS

• AMOUNT: Up to $5,000,000
• LTC: 100% of eligible costs
• FUNDING: Up to 100% LTC. We fund the lesser of 100% of eligible costs and a maximum LTV.
• TERM: 5 Years
• FEES: Limited to 2.5% limit on total lender fees you pay, no matter how much or how many times you borrow
• RATE: Low Rate - Prime+2.5 -3% for 5 years
• OTHER COSTS: Reimburse lender for third-party expenses including appraisal, recording taxes and fees, etc. You pay no other Fees.

FEATURES

• Ask us about not having to pay interest monthly – and no interest-on-interest.
• Up to $60k Same-day draws possible
• Up to $5,000,000 per project
• SPEC builder line of credit is the ultimate way for builders and developers to fund SPEC ground-up construction and major rehabilitations / renovations. Use for a broad range of residential real estate, including houses, duplexes, triplex, quads, and 5+ unit multifamily residential buildings.
• No limit on how much of the line can be used for SPEC – there are no pre-sale requirements. No prepayment penalties. No required reserve accounts. Revolving so can borrow and re-borrow funds.