We arrange construction loans up to 85% Loan-to-Cost

A construction loan is used to finance a commercial real estate construction project. Typically, these funds are used to purchase and develop new land, cover the materials and labor costs associated with building a new structure, or for a large-scale renovation on an existing property.

While a traditional mortgage is fully funded in one lump sum at closing, a construction loan is paid out using a draw schedule, utilizing an “interest-only” debt service payment structure. As the construction project hits its projected milestones, the loan incrementally pays out or “draws down.”