Construction Financing

Lending Criteria Description
Purpose:
  • New Construction
Property Type:
  • Single Family Residence (1-4)
  • Multifamily
  • Commercial
Loan-to-Value / Loan-to-Coast:
  • 65% – 70%
Minimum Credit Scores:
  • 680
Prepayment Penalty:
  • None
Minimum Loan Amount:
  • $300,000 – $2,000,000+
Minimum Debt Service:
  • 1.25% – Commercial
Recourse:
  • Yes
Conventional Lender Fee:
  • $1,000 + $1,950 Processing
Broker Fee:
  • 1 – 2 points + $1,495 Processing
Terms:
  • 12 – 18 Months
Reserves:
  • 10% of loan amount
Closing Timeframes:
  • 60 – 90 days
Net Worth:
  • Equal to Loan Amount
Amortization:
  • Interest Only as Disbursed
Collateral:
  • 1st Trust Deeds
Other Costs:
  • All 3rd Party Fees; Fund Control, Environmental, Title, Escrow, Etc.
This information is NOT a loan approval or commitment to lend. The actual loan amount, interest rate, fees, costs and monthly payment on your specific loan transaction can vary and will depend on your choice of loan product and your unique credit profile. Loans (in CA) will be made pursuant to BRE License #02001852 & NMLS License #1463667. Loan Brook, Inc. is an equal housing lender