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New Construction
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.
What We Provide
Short Term Construction Loans
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.
What We Offer
- 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
Property Types
- Multi-Family
- Single Family Residence
- Town Homes
Requirements
Borrower/Sponsor:
- Resume / Summary of experience showing 2+ previous completed deals
- Personal Financial Statement
Project Information
- Project Summary
- Exit Strategy (Sell / Rent)
- Plans and Drawings
- Detailed Budget
- Hard Costs (labor, materials, etc)
- Soft Costs (plans, permits, interest, etc)
Terms
- 12 – 36 Months
- Purpose: Purchase / Refinance
Join Us on Your Investment Journey
At Elite Lending Partners, we are committed to helping you achieve your real estate investment goals. Whether you’re a seasoned investor or just starting out, our team of experts offers tailored financing solutions with competitive rates and flexible terms. Let us be your trusted partner on the path to financial success, providing the guidance and support you need every step of the way.
