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. 
(experience defined a # of properties built and sold or stablized in the last 12 months)
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