New construction loans are short-term loans that enable the construction of a project to completion. Upon completion, the permanent loan or “end financing” will be used to pay off the interim new construction loan. The term on a construction loan is short duration of 6 months to a year.
Up to 85% of Project Cost – land & development
12-24 Month Term – Interest Only
Up to 75% Loan to Purchase, 100% development cost not to exceed 75% ARV
Loans from $250k to $10M
Nationwide Footprint
Fast approvals and funding since we are not a bank
Multi-Family
Single Family Residence
Town Homes
Borrower/Sponsor:
Resume / Summary of experience showing 2+ previous completed deals
Personal Financial Statement
Project Summary
Exit Strategy (Sell / Rent)
Plans and Drawings
Detailed Budget
Hard Costs (labor, materials, etc)
Soft Costs (plans, permits, interest, etc)
12 - 36 Months
Purpose: Purchase
Refinance
Toll-free: +1 (855) 357-2363 info@elitelendingpartners.com
Mon | 09:00 am – 05:00 pm | |
Tue | 09:00 am – 05:00 pm | |
Wed | 09:00 am – 05:00 pm | |
Thu | 09:00 am – 05:00 pm | |
Fri | 09:00 am – 05:00 pm | |
Sat | By Appointment | |
Sun | Closed |
Copyright © 2023 Elite Lending Partners LLC - All Rights Reserved.
We use cookies to analyze website traffic and optimize your experience on the site. By accepting our use of cookies, your data will be grouped with the data of all other users.