New Construction
Construction loans for ground-up residential and commercial projects.
Financing for spec homes, subdivisions, and multifamily development, with select commercial projects considered case by case.
New construction terms at a glance
Loan Amount
$500,000 - $50,000,000+
Loan-to-Cost
75-90%
Loan Rate
From 9.50%
Rate Type
Fixed, interest only
Origination Fee
Typical 2%
Loan Term
12-36 months
Borrower
Business entity, trust
Loan Guaranty
Non-recourse available
Prepayment
No penalties
Min. FICO
640
Geography
Primary and secondary markets nationwide
Best For
Built for builders and developers.
Renovating an existing property? See our Fix & Flip or Bridge programs.
- Spec home builders and subdivision developers
- Multifamily developers building from the ground up
- Mixed-use, office, retail, hospitality, and industrial projects, considered case by case
Key Details
What matters before you apply.
Here's what most builders want to know before they apply.
Project focus
We focus on spec homes, subdivisions, and multifamily development.
Borrower and guaranty
Loans are made to business entities and trusts, with non-recourse options on qualifying projects.
Exit flexibility
No prepayment penalties, so you can sell or refinance as soon as the project is complete.
Before You Apply
Have these ready.
Your loan moves faster when we have the project details up front.
- Project address, plans, and permits status
- Construction budget and timeline
- Your building experience and exit plan: sell, rent, or refinance
Ready to apply for a new construction loan?
Start your application, or talk to us first if you have questions.