Construction Lending is STILL READILY AVAILABLE!
A LOT of money is still available for construction projects. Although most banks and institutions are scaling back their LTC’s (Loan to Cost) because of how far along we are in the business cycle, private money lenders and bridge lenders are stepping up to fill in the gaps. We have some incredible niches including the following HOT products:
-Up to 100% Loan To Cost (LTC) for ground lease purchase and construction deals
-Up to 95% LTC for single tenant net lease build to suit construction
-SUBDIVISION FINANCING based on As Finished Value, not loan to cost! This may get you financing, even for the horizontal, at close to 90-95% of cost! Super hot!
-First mortgage Bridge debt for Hotels and Assisted Living Facilities to 75% Loan To Cost! Loan amounts on the product range from $7 Million to $35 Million. Closings in under 45 days. Single digit rates! This product is perfect for deals that need quick execution and high LTV without going SBA or USDA. IN FACT, WE CAN GET 75% FINANCING ON MOST CONSTRUCTION PROJECTS!
-Green and SBA 504 Construction projects up to $25 Million! These loans will have blended rates below 6% and we can do HOTELS, self storage, Funeral Homes, Bowling alleys and many other special purpose properties. Very hot product-this will often take the Loan to Cost (LTC) up to 85-90%! With a green project, we can do SBA loans EVEN if you have maxed out your SBA eligibility. Call me to discuss ways to make your project “green” and hence, qualify for this special financing.
-LARGE PROJECT FUNDING! For construction deals $50 Million and up we can provide a combination of debt and preferred Equity/Mezzanine up to 85% loan to cost! We can get up to 65% on the first mortgage at aggressive rates and do a 20% preferred equity or mezzanine piece to round out the capital stack-super aggressive financing! In fact, we can do up to 90% LTC for Class A Multi-family in major metros on these larger projects! And Much more. Of course, we can fund smaller projects as well. The key to using me is that I will review the loan for FREE and typically have terms in writing in 48 hours. There is no cost to get an expert second opinion and possibly, approval.