For Experienced developers and seasoned real estate investors:
FOR DEVELOPERS
FOR REAL ESTATE INVESTORS
HOW IT WORKS
* Note: may not be applicable if private money is needed and used.
- Small, single-family subdivisions
- Single spec homes
- Commercial developments
FOR REAL ESTATE INVESTORS
- Funding is determined by appraised value or cost.
- An outline of the project is needed
- Show cost of development
- Survey of the market to demonstrate the project will be profitable
- Provide time line of project
HOW IT WORKS
- The loans are non-revolving, lines of credit secured by real estate and possibly personal guarantees.
- The loan funds are distributed as the project proceeds which includes inspections and review by the construction management inspector.
- Interest may only be incurred on funds advanced*.
- The borrower may possibly avoid paying interest out of pocket.
* Note: may not be applicable if private money is needed and used.