Ground Up Construction Loan
- For an experienced builder or developer who is looking to capitalize on a new project without waiting on bank financing
- A contractor who owns entitled or shovel ready land but needs the financing to get the project started
- A fix & flip project that has extensive rehab requiring vertical additions or significant horizontal additions to the property
Program Overview
Loan Amount: $500,000 - $50 Million
Term Length: 6 - 36 months
Max LTV: Up to 75%
Max LTC: Up to 90%
Amortization: Interest only
Interest Rate: Starting at 7.99%
Closing Time: 17 Days
Loan Use: Purchase, refinance, cash- out, Construction on Entitled or Shovel Ready Land
Pro's About Ground-Up Loans:
- Quick Closing in as little as 17 Days
- Low Rates Starting at 7.99%
- Interest-only payments
- Minimal Income Documentation
- No Occupancy Requirement
- Qualify Based on the Property LTV, Liquidity, & Experience
What Do I Need To Qualify?
- Origination Fee: 1.50% + of the loan amount
- Prepayment Penalties: None! (3+ months of minimum interest earned)
Eligible Properties for Ground-Up Construction Loans
Multi Family
Multi-family is a classification of housing where multiple units (5+) for residential use are contained within one or more buildings within one community or complex. At World's Fair Capital, we will lend to real estate investors looking to purchase or refinance multi-family properties with loan amounts of $250,000+.
Multi Family (up to 64 units)
Multi-family is a classification of housing where multiple units (5+) for residential use are contained within one or more buildings within one community or complex. At Capital Funding Financial, we will lend to real estate investors looking to purchase or refinance multi-family properties with loan amounts
Mixed Use
Mixed-use is a type of development that blends residential and commercial uses into one integrated complex or building. At World's Fair Capital, we will lend to real estate investors in the following scenarios: purchase, refinance, bridge to stabilization, bridge to sale, or bridge to construction take out on mixed use projects with loan amounts from $250,000+
Required Documents for Closing
Property Documents
- Purchase Contract
- Payoff Statement (if Refinance)
- Plans & Permits
- Sources & Uses of Funds
- Scope of Work
- Appraisal & Feasibility Report
Personal Documents
- Loan Application (Download)
- Track Record (Download)
- General Contract Resume
- Last 3 Months of Bank Statements
- Driver’s License (Front & Back)
- Passport/Visa (if Foreign National)
Business Documents
- Articles of Incorporation
- Operating Agreement (LLC) or Bylaws (Corp.)
- EIN Letter
Benefits of our Ground-Up Construction Loans:
- Close in as little as 17 Days
- Up to 85% LTC
- Minimal Income Documentation
- Low Credit Requirement
- No Prepayment Penalty
Loan Fees and Costs
- Origination Fee: 1.50% + of the loan amount
- Processing Fee: Based on Project Size
- Underwriting Fee: Based on Project Size
Prepayment Penalties
- None! (3+ months of minimum interest earned)