Ground Up New Construction
Whom are Ground Up Construction Loans Suited For?
American Financial Lending bridge loan program are for highly experienced builders who are looking for a hassle free process to keep their construction projects moving to completion.
Types of Properties We Fund Ground Up Construction
Single family residence, 2 to 4 units, townhomes, planned unit developments, or condominiums. All properties must be non-owner occupied.
How do Construction Loans Get Financed?
We require a score of 680+ and a minimum loan of $250,000. Property values based on appraisal valuations and it does not matter if the property is vacant or rented. Once you filled out an application and been pre qualified, you will need to provide documentation.
Long Term Rental Program Criteria
To get a Long Term Rental loan started you
- $250,000 – $5,000,000 non-owner occupied property
- 1 Ground up construction project in the last 24 months
- 680+ minimum score
- 2 months of recent bank statements
- Score and background check
- Detailed budget of total soft and hard costs
Terms
- Max 80% LTC
- Rates from 7.5%
- Up to 50% of land value
- 9-18 month term
- No prepayment penalty
- Pre-payment penalties may apply up to 6 months