Elite Builder Loan
For builders with experience looking to grow their business further. Funding for ground-up and mid-construction projects. Short-term business purpose loans to finance construction of residential properties.
Elite Builder Loan Highlights
| Minimum Experience | 15+ experience required. |
| Minimum Credit Score | 620 FICO |
| Inidivdual Loan Size | $100k - $750k |
| Exposure Limitations | No more than 50% of the approved exposure can be funded within a single developement |
| Project Limitations | Max 15 projects outstanding/unpaid at one time |
| Max Leverage | Up to 90% LTC | Up to 75% LTV |
| Construction Holdback | Up to 100% of construction budget |
| Borrower Type | Entities (LLC, Corp) |
| Eligible Properties | Non-owner occupied: detached SFR including detached PUD & detached condos |
| Loan Term | 12 months standard, interest-only with fixed rate |
| Eligible Costs Financed | Hard costs and all soft costs |
| Interest Accural | Drawn balance |
| Ineligible Project Scope | Attached properties, 2+ unit properties, rural properties, log home properties, vacation properties, waterfront properties, leasehold properties, commercial or mix-use properties, manufactured or modular properties, mid-construction properties |