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Construction and Land Loans
With construction financing, it’s paramount to identify the right lending fit. We know our way around bank financing and bridge construction loans. Maximum Lending enjoys long-standing relationships with local lenders who can make fast decisions that benefits our clients.
- Access to local commercial banks and Wall Street real estate funds
- 72 hour pre-approval, 30-day close. Rates starting at 4.75250% (4.399% APR)
- Developer financing up to $45 million; loan-to-cost (LTC) up to 75%
- Residential construction financing for primary and second home up to $15 million
- Commercial bridge-reposition loans up to $20 million with loan-to-values (LTVs) up to 65%
Vacant land loans available up to $10 million.
Transaction Spotlight
The Situation
Maximum Lending recently closed on a $4 million spec construction loan in Irvine, CA with 50% lender loan-to-cost financing.The Solution
We located a local correspondent bank willing to provide construction financing, despite our client’s limited US income. This non-recourse loan was cross-collateralized against the subject property, as well as two other income-producing homes.The Loan Details
$4 million dollar construction loan- 2-year term
- 7.000% APR
- Interest Only – interest paid only when money drawn
- No prepayment penalty
- 21-day close of escrow