Construction Loans
Construction loans can cover just about any construction project or development. GenWealth understands the unique financing requirements and unexpected hurdles of the commercial construction industry. Apply for a construction loan anywhere in the United States and get support and financial security that matches your situation perfectly.
Construction Financing
Steady cash flow from construction financing is the blood line for any commercial construction project whether you are building an office building, retail center, industrial building, or any other type of income-producing property. We have a range of construction financing programs at our brokerage firm to fit your unique requirements. Our seasoned construction financing officers have years of expertise in construction financing. Our team of commercial construction experts include accountants, engineers, and other principals who make sure you achieve your desired goals.
Our Construction Financing lenders will lend nationwide. If you have any questions about our construction loans contact our mortgage advisors now.
General Info & Details
Following plays a vital role in decisions related to a commercial construction loan:
- Value of the finished project must be more than the cost of construction.
- Loan-to-Value Ratio
- Loan-to-Cost Ratio
- Debt Service Coverage Ratio
- Net-Worth-to-Loan-Size Ratio
Below are terms for Construction Financing:
- Loan Amount: $500,000 to $15,000,000
- Lending Area: Nationwide
- Property Type: Multifamily, Office, Retail, Mixed-Use, Hotels, Warehouse/Self-Storage, High-End Residential Properties
- Interest Rate: Starting at 7.99%
- Loan to Cost: Up to 80%
- Loan Term: Up to 24 months
- Foreign Nationals Accepted
*$500,000 minimum for the following states: WA, OR, ID, CA, NV, UT, AZ, CO, AL, HI. Otherwise, $5,000,000 minimum
Financing Options
A construction loan is a loan that help the borrower to build, expand, rehabilitate, or reposition a property. The loan can be applied for by anyone who is investing their time and money in construction or related expenses. A contractor, or a small business owner can use our construction loans to finance their construction project. Not just for the actual building, a construction loan can also be used to pay for building equipment used in construction, building materials, or for hiring employees. In most cases, construction financing to finance a real estate development project fall under two broad categories, although sometimes these two loans will also be combined into one:
Option 1. Short term construction financing
This caters the financing needs for the construction and lease up phase of the project.
Option 2. Long term permanent construction financing
Once a project becomes stabilize and leases up to the market level of occupancy, the construction loan is “taken out” by longer term permanent financing.