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New Construction
Ground-up Construction Loans are specialized financing solutions designed for real estate investors seeking rapid access to capital for the acquisition and development of a property. This loan program is available for single-family residential properties, townhomes, and 2-4 unit developments.
Who is it for?
With Harbour Lending, you can benefit from competitive interest rates, flexible terms, and quick approval processes, ensuring a true partnership between our team and yours. Our team of experienced loan officers possesses a deep understanding of the real estate market and comprehends the unique challenges investors encounter when securing financing. We collaborate with you to grasp your project's objectives and create a tailored lending solution to meet your specific requirements. If you identify with any of the investor profiles mentioned above, we encourage you to submit your pre-approval application today, and our team will promptly reach out to you to discuss your financing needs.
| Commercial Bridge Loan Rates & Terms | |
|---|---|
| Loan Amount | 70% of ARV |
| Origination Fee | 3% of loan amount (payable at closing) |
| Interest Rate | 12% interest rate |
| Pre-Payment Penalty | None |
| Term | 12 months (extensions available) |
| Liquidity Requirements | 20% of the loan amount* |
| Qualifications & Requirements |
|---|
| 630+ Credit Score |
| 3 Months Bank/Investment Statements |
| Liquidity = 20% Loan Amount on No-Cashflow Assets |
| Two Years Tax Returns |
| Completed Loan Application |
| $575 Processing Fee |