FLORIDA

SINCE 1995

DIRE‍‍‍CT LENDING

MENU

This is not a commitment to lend.  Not all borrowers will qualify for the loan programs listed.  All program terms and conditions are subject to change and may be discontinued without prior notice.  Contact loan originator for program questions and scenarios.  

CONSTRUCTION LENDING, SIMPLIFIED.

Financing the construction of your dream home.

We offer a true one-time close construction financing solution for your dream home.  Our underwriting is also not credit-score driven, meaning that we take into consideration the applicant's entire credit profile.  

We lend up to $6.5 Million with sufficient down payment (30% - 40%). Unique property types (such as Log Homes, Dome Homes, Stilt Homes and other such properties) are considered on a case-by-case basis with sufficient down payment and reserves.

If you're serious about construction financing, we offer what we believe to be the most flexible and competitive construction solution available in the state of Florida. We'd love the opportunity to answer all of your questions and review your options.

CONSTRUCTION

LENDING

At a Glance

Minimum Down Payment

20% - 45%

Minimum Down Payment to avoid PMI

‍‍‍NA‍‍‍

Minimum mid-credit score

Min 680 -or- Not score-driven.

Min/ Max Loan Amount

$100,000 - $6.5 Million

Loan Repayment Terms

30 years

Amortization

2/1 ARM, 5/1 ARM, 10/1 ARM

Prepayment Penalties

None

GET PRE-APPROVED TODAY

3 easy steps.  No cost/obligation

GET PRE-APPROVED TODAY

3 easy steps.  No cost/obligation

LOAN SIZE LIMITS

$100,000 - $6.5 Million

OCCUPANCY

Owner-occupied only

ACCEPTABLE HOME TYPES

  • Single Family Homes
  • Planned Urban Development (PUD)

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KEY FEATURES

  • Single One-Time Close Transaction w/ up to a 12 month construction period. (No need to re-qualify for the loan all over again at the end of the construction phase, unlike many construction lenders.)
  • Low Down Payment- as little as 10% down required.
  • Six (6) draws permitted.  Additional (up to 9) are permissible for pools, if applicable.  General Contractors only. No owner-construction.
  • Determining Loan-to-Value (LTV) Ratios:
    • If land is owned less than 1 year, LTV is based on cost to build plus acquisition price of land.
    • If land is owned for a year or more, LTV is based on cost to build plus land value
    • If Land is gifted by relative, ownership seasoning is required by relative for 1 year minimum prior to gift.
    • There is no cash out if using Land Equity
  • Loan Programs
    • 2/1 LIBOR ARM - 2/2/6 Caps - Loan Amount $100,000 - $6.5 Million / Max LTV 80% / Reserve requirement - 6 months PITI
    • 5/1 LIBOR ARM- 2/2/6 Caps - Loan Amount $100,000 - $6.5 Million / Max LTV 80% / Reserve requirement - 6 months PITI
    • 10/1  LIBOR ARM- 2/2/6 Caps - Loan Amount $100,000 - $6.5 Million / Max LTV 80% / Reserve requirement - 6 months PITI

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(813) 928-9610

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