CONSTRUCTION LOANS
LOAN GUIDELINES
LTV Up to 65% (based on as-improved value) LTC up to 85% (based on cost to build) Borrower Experience Proven track record with a similar scope project Funds and Closing For purchase (if not already owned), and reimbursement of work in progress (if approved)
Term
General Requirements All lending for investment purposes only Interest calculated on drawn balance Construction draws based on inspection report No rural properties Apartments and Development-only loans not allowed 1st Lien Position at all times
Up to 24 months
Purpose Purchase, refinance, or cash-out refinance Property Type Single Family Condo 2-4 Unit properties Townhouses Loan Size Min Loan Amount Max Loan Amount Per Property/Lot Total Max Loan Amount
$500,000 3,000,000 $20,000,000
Payments
Interest Reserve or Monthly Payments
Borrower Requirements
DOCUMENTATION REQUIREMENTS
No individuals. Must be an LLC or Corporation Minimum 700 credit score Reserve requirement: Borrower /
BORROWER/GUARANTOR
PROJECT
Guarantor must demonstrate a minimum aggregate 5%liquidity relative to all BC committed loans Personal Guarantee preferred: Limited Guarantee considered with a 50bps fee paid at closing (may not be rolled into the loan balance)
GET STARTED
Signed Estimated Loan Terms Completed Loan Application Borrower/Builder/Guarantor Resume
Purchase and Sale Agreement w/ All Addendums (if Purchase) Preliminary Construction Documentation: Preliminary Plat Map Preliminary Vertical Plans Preferred Title Insurance Company & Contact Preferred Insurance Company & Contact Breakdown of Costs Already Paid into Project Builder Material Specs Project Budgets on Builders Capital Budget Template Completed Construction Agreement (if using a 3rd Party Builder and/or Developer) Final Plat Approval from Jurisdiction (or Approval Letter) Final Stamped Engineered Plans for Development Work Final Site Plan All third-party order outs still apply, including standard appraisals, title and 3rd party project reviews
GET FUNDED
Most Recent Two Months Bank Statements (Borrower & Guarantors) Most Recent Two Years Tax Returns (Borrower & Guarantors) Borrower Entity Documents and Appropriate Business Licenses Legal Filing Documents Operating Agreement & Certificate of Formation (LLC) Articles of Incorporation & Bylaws (Corporation)
Let's close your real estate transaction with ease and an on-time close and fund.
Danijella Dragas
www.thelendingcorporation.com +1 949-400-5779 ddragas@thelendingcorporation.com
Company NMLS#:2621251 Personal NMLS#:1099405
"Control risk, the returns will take care of themselves"
This flyer is a promotional advertisement for loans offered through The Lending Corporation. All loans are subject to credit approval, and the terms are subject to change. THE LENDING CORPORATION NMLS 262125
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