A streamlined way to build single-family and multifamily projects on shovel ready or entitled land.
New construction loans for experienced home builders on1-4 unit residential properties and multifamily properties up to 100 units with a max loan amount of $20,000,000. Request a term sheet below and get pre-approved within 24 hours.
Property Types:
Single Family Residential, 2-4 Units, Condominiums, Townhomes, Multifamily Up to 100 units, Residential Subdivisions
Rates Starting at:
10.99%
LTC:
Up to 85%
Min FICO:
630
Loan Amount:
$300,000 to $10,000,000
Term Length:
12 – 18 Months (No Prepayment Penalty)
Experienced Developers Only (3+ Projects on Track Record)
Draw Requests:
Funded in 2-3 Days
Amortization:
Interest-only on drawn funds
Closing Timeline:
7-14 Days
Once you accept the terms, we will order an appraisal.
Once we have your appraisal and due diligence items we submit to underwriting for review and we can close within 3-7 days after the loan approval.
Once you accept the terms we will order an appraisal.
Once we have your appraisal and due diligence items in we submit to underwriting and will take about 3 – 7 days to close after the loan is approved.
Borrower must have completed 3 similar sized ground up construction projects in the last 3 years.
Yes, we can finance soft costs such as site plans, architectural fees, permit fees, and other horizontal work.
Interest is only paid on funds that are disbursed to the borrower. You don’t pay interest on funds not yet disbursed to you.
We can close construction loans in as little as 7-14 days. We are a team throughout the process and we work as fast as you work in getting us what we need to get the loan approved.
Yes, we can fund up to 60% of the land purchase price if the land is permitted, and up to 50% of the purchase price if not permitted yet.
One of our experts will go over your details to get you pre-approved within 24 hours!
CONTACT INFO
15931 Chatsworth st. Granada Hills CA 91344
818-873-3231
Info@HMLInvestments.com