The following guidelines are general for construction loans, please speak to your account executive about other programs and options that might be available for your project.
Minimum Loan Amount
Maximum Loan Amount
6.50% with credit over 650; 9.50% with credit below 650; 12% with credit under 600
6.5% or applicable rate based on credit score as noted in construction only column. Rate is not locked until underwriting is completed and loan is committed. This rate is for the construction period of 24 months. The rate is fixed during that period and until property achieves 1.25 DSCR. After 24 months, loan converts to permanent stabilized loan for either five or ten years amortized over 20 years. If after 24 months, property does not achieve 1.25 DSCR, rate will remain at 6.5% or applicable rate based on credit score until property achieves 1.25DSCR.