WHO IS ELIGIBLE FOR A COMPLETION LOAN? When structuring financing for mid-construction properties, lenders need to determine borrower qualifications and project viability. You must have a good credit rating, a satisfactory level of experience in new builds, and a property at the mid-construction stage. Lenders that offer construction completion loans will consider projects that are roughly 75% complete and satisfy three main criteria: 1. Weathertight: Foundation, framing, roof, doors, windows installed, and siding complete. 2. Systems Ready: Rough plumbing, electrical and HVAC complete. 3. Clean Slate: No mechanic’s liens present. FINDING THE RIGHT LENDER FOR CONSTRUCTION COMPLETION FINANCING It’s important to do your research, as not all lenders offer construction completion financing. Your goal is to find a lender experienced in construction loans because they understand the complexities of these types of projects. This financing solution is a great tool for builders who are approaching the finish line on one of their builds—giving them more time and capital to complete their projects and collect their profit instead of being dragged down by cost overruns or fees from their maturing loan. At CV3 Financial, we understand your needs, whether you are building a rental, flipping a home, or looking to consolidate your portfolio into a single loan. CV3’s Construction Completion Financing is here to help you get your project across the finish line!
(844) 721-3733 | www.CV3financial.com/think-realty
NMLS ID #2478266. For more licensing information visit https://nmlsconsumeraccess.org. Loans made or arranged pursuant to California Finance Lenders Law License 60DBO-183355. AZ Mortgage Banker License #1047792, FL Mortgage Banker License #MLD2457, Idaho MBL-2082478266, MN license #MN-MO-2478266, NV Mortgage Company License #5858, OR Mortgage License #2478266, UT Mortgage Entity License #13576219, VT CLL – 2478266. This is not a commitment to lend. All offers of credit are subject to due diligence, underwriting and approval. Not all borrowers will qualify and not all borrowers that qualify will receive the lowest rate or best terms. Actual rates and terms depend on a variety of factors and restrictions may apply. CV3 Financial Services, LLC reserves the right to amend rates and guidelines without notice.
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