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Construction
loan rates will vary from transaction to transaction, and will be
adjusted for a number of factors.
Some factors
that will impact the construction loan rates we are able to secure
for you include the type of project, location of the project, cash
available to bring to the table, total cash invested to date and the
strength of the guarantor.
In today's
market, we are putting together construction loans maxing out at
about 60% of the "as built" value. This percentage will vary
based on location.
Typically our
construction loan rates fall into the 12-14% range. These
loans typically range from one to three years, and often will
include an interest reserve. Most of the time, funds for
construction will be held in a builders control account and will be
fund controlled.
We do not offer
owner occupied construction loans at this time. Owner builder
is ok, as is commercial construction.
If you have a
construction loan scenario you would like to discuss, please call us
today. With a ten minute conversation, we can typically let
you know whether or not we are likely to be able to help.
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