Continuous lending throughout 2020
Reliable. Fast. Direct. As construction loan specialists, we understand the funding needs of real estate developers, builders, and contractors in the Mid-Atlantic. All our loans are backed by rigorous, in-house underwriting, strong knowledge of the local market, fair pricing, and the idea that our loans are very much partnerships. We are your advocate from day one through the completion of your project.
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Loan to value ratio; up to 65%
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Commitment in as little as 48 hours
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Loans from $500,000 to $50 million
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No upfront fees
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No prepayment penalties
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Funding typically within 5 days of commitment
Designed for vertical construction of projects such as multi-family housing, single-family housing, commercial, office, and industrial buildings, our construction loans are underwritten against the completed value of your project so you have more funding flexibility. As a project-oriented lender, we make sure your project is fully funded between the loan and your equity. Unlike a traditional lender, we do not have additional deposit requirements, nor do we have strict liquidity requirements.
As specialists in construction loans, we understand the funding needs of real estate developers, builders, and contractors. Our expedited draw process—as quick as 24 to 48 hours—gives you quick access to cash. Our loans can also be structured with a pre-draw to cover land and soft costs if needed.
Our land development loans provide funding for the soft costs and entitlements required for development, such as hiring architects, engineers, and environmental and other consultants.
We have a greater understanding and appreciation for land loans than many lenders. Our underwriting is based on the future completed value of the asset, allowing a greater loan-to-value than other lenders.
We provide interim, or short-term, funding to cover the gap between when a construction loan comes due and long-term financing can be arranged. We base our loans on the completed value of the project, minimizing additional equity or cash requirements.
As construction loan specialists, we are particularly helpful on broken construction loans: when a loan becomes due before construction is finished. We underwrite your loan on the completed value of the project, rather than its unfinished state. Most lenders, including traditional bridge lenders, look only at the current value of the property. This means that you won’t need to bring as much cash to the table or dilute your equity to get a loan closed. In addition, our expedited draw process—as quick as 24 to 48 hours—gives you quick access to the cash your contractors need to complete the project.
Designed for major improvements on multi-family units and commercial, office, hospitality, and industrial buildings, our rehab loans cover major upgrades such as tenant improvements, studs-out remodels, expansions, and redevelopment. We have lower equity requirements (including cash on hand) than traditional lenders, and again unlike traditional lenders, we base our loans on the completed value of the improved building, not its existing condition. This leaves you with more funding for the project.
As specialists in construction loans, we tailor our loan solutions to the needs of contractors, including an expedited draw process to get necessary cash when they need it.
We’re here to make your vision a reality. With unmatched expertise across a wide range of commercial real estate investments, our experienced team will custom tailor a solution that’s right for your project, without the costly delays inherent in traditional sources of financing such as banks.
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Highest Degree of LeverageWe loan against the completed value of your project, with no loan-to-cost requirements. As a result, we can provide more funding for your project than a bank can and that means more flexibility for you.
Speed / ConvenienceWe can close as quickly as 5 days, and draws are wired within one to two business days after inspection approval. Banks can take months to review a typical real estate project. In that time, our clients’ projects are already underway and on the way to realizing profits.
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Unmatched Industry ExpertiseWe’ve closed approximately $2 billion in project capital over more than 1000 loans (and counting). Our level of construction market intelligence is second to none.
In-House Manual UnderwritingWe evaluate every deal on its own merits and are faster and more flexible in the evaluation process than traditional financing such as banks. You’ll typically get feedback within the same day of your request and a term sheet within as little as 24 to 48 hours.