BUILDER SOLD LOAN
This program is designed to provide a business loan to a Builder who has a contract to sell the home once the property is completed.
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Loan amounts from $100,000 to $3,000,000
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Loan amounts up to 75% of the contract price on conforming loan amounts, otherwise up to 70% of contract price. (Cross collateralization allowed on other properties, if needed, for maximum or greater loan amounts)
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Land purchase may be included in the construction loan. Please call for a quote.
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Foreign Nationals are eligible for this program
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Deal directly with the Loan Officer/Underwriter
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Full and Limited Documentation programs available
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Fast pre-qualification, typically within 3 to 5 business days, closing typically within 21 days (fast track closings 14+/- days available)
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Loans are available to Borrowers with excellent to less than perfect credit
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Flexible draw schedules
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1 to 4 family homes, see Multi-Family for more than 4 units
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12 month construction term (longer terms considered on an exception basis)
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Interest only payments based on funds advanced
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New Builders will be considered