Ground Up Construction

Ground Up Construction Loan Program

When the bank lets you down We save the day!
APPLY NOW

Ground Up  Construction Loan

A "Ground Up Construction" loan program is designed to provide a streamlined financing solution to build single family, multi-family, and mixed use projects which are entitled or shovel ready. A Ground Up Construction loan is a great fit in the following situations:
  • 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
At World's Fair Capital, our Ground Up Construction loans close very quickly... in as little as 17 days at rates starting at 7.99%!! Our construction loans require very little documentation instead the underwriting is primarily based on the risk of the project itself! Our Ground Up Construction loans are a great way to acquire property to build a single family spec home or multi-family development. Our ground up construction program provides you with the ability to close quickly by using a reliable & experienced lender as your financing partner.

 

Program Overview

Loan Amount:                 $500,000 - $250 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
APPLY NOW

What Do I Need To Qualify?

Simple... Experience & Equity in the property!
  • Origination Fee: 1.50% + of the loan amount
  • Prepayment Penalties: None! (3+ months of minimum interest earned)
APPLY NOW

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)


Share by: