Commercial Construction Loans FHA 203k

This program is designed to provide a business loan to a Builder constructing a commercial property (Office Buildings, Retail Stores, Shopping Centers, Warehouse/Flex Space, 5+ Multi-Family units and most other income generating properties).

• Fast pre-qualification, typically between 3 to 5 business days
• Deal Directly with Loan Officer/Underwriter
• Loans are available to Borrowers with excellent to less than perfect credit
• Flexible draw schedules
• Owner and Non-Owner Occupied Commercial properties are eligible
• Self Build/Owner Builder Borrowers are allowed
• Land purchase may be included in the construction loan
• Up to 18 month terms available (longer terms available on an exception basis)
• Loan amounts up to 75% of the appraised value based on the income approach. (Cross collateralization allowed on other properties, if needed, for maximum or greater loan amounts)
• Interest only payments based on funds drawn
• Full income documentation and limited income programs available
• Loan amounts from $75,000 to $5,000,000

FHA 203k Residential Construction Loans 

This program is designed for the following: 1)  Borrowers who are hiring a builder to construct a residential property 2)  Borrowers who are acting as their own general contractor to construct a residential property.. 3)  Borrowers who need to finance the renovation or expansion of a property they currently own or they plan to purchase. 4)  Provide a business loan to a Builder for the construction of a model or spec home.

• Loan amounts from $75,000 to $1,750,000
• Borrower acts as own General Contractor (No site supervisor required)
• Loan amounts up to 90%* of the appraised value on single family, owner occupied, full income documentation, conforming loan amounts. Please call for additional information on other programs offered. (*Cross collateralization allowed on other properties, if needed, for maximum or greater loan amounts)
• Land purchase may be included in the construction loan, up to 75% of the lot purchase price
• Deal directly with the Loan Officer/Underwriter
• Full and Limited Documentation programs available
• Fast pre-qualification, typically within 3 to 5 business days
• Loans are available to Borrowers with excellent to less than perfect credit
• Flexible draw schedules
• 1 to 4 family homes preferred, see Multi-Family for more than 4 units
• 12 month construction term (longer terms considered on an exception basis)
• Interest only payments based on funds advanced