Ground Up Construction Loans
SimpleBuild is the perfect loan product tailored for home builders. Simplending Financial offers a dependable funding solution for your new construction projects spanning 1-8 units nationwide. We understand how important it is to move quickly during the home building process, which is why we’ve crafted a streamlined product to ensure prompt and seamless funding and draw processes.
At Simplending, we are experts in catering ground up construction loans to give life to your construction project. Whether you want to construct a new home, looking for a commercial property or want to embark a large-scale development, we are here to help you financially. We are a leading ground up construction hard money lenders to cater comprehensive services to provide you enough capital to start your project and end it efficiently.
Looking for Funding for a New Construction Project?
Simplending Financial is able to provide financing to cover all of your ground-up construction needs. This program offers an 18-month term and rates starting at 10.29% to make sure your project is well-funded from start to finish
LOAN CRITERIA
- Collateral:
Non-Owner Occupied Single-Family Properties;
Condos; Townhomes - Term:
12 to 24 Months. - Loan Amount:
$100k* – $2M
*Based on Max Loan Amount - LTV:
Initial Loan Amount:
Up to 75% of the As-Is Value - Maximum Loan Amount:
Up to 75% of the After-Repair Value
Up to 100% Total Loan-to-Cost - Minimum Property Value:
$150k**
**As-Completed Valu - Credit Score:
650 Minimum FICO
1-8 Units
Why Ground up Construction?
Minimal Documents
Simplending requires only minimal income documentation from contractors, so you won't need to provide extensive paperwork for verification.
Mutual Interests
We aim to ensure that the deal benefits both us and the borrower. We will conduct thorough due diligence to ensure it aligns with our mutual interests.
Custom term lengths
Our terms are short and interest-only, so you won't have to stress about holding the loan for an extended period.
Nationwide Options
Simplending Financial provides a reliable funding solution for your new construction projects ranging from 1 to 8 units across the country.
FAQs
- Making concept and design of construction
- Getting building permits
- Making the land suitable for construction
- Starting foundation and framing up
- Roughly doing electric wiring and plumbing
- Installing other essential components like roof
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