Over the past few years, conventional lenders have all but stopped providing speculative construction loans to builders and investors. While the appetite of traditional lenders for this type of loan fluctuates with the market, private lenders like Direct Investors in Sacramento, CA have long provided financing. If you are considering this type of loan option, there are a few factors to keep in mind:
Direct Investors in Sacramento, CA is a trusted lender for construction loans. We lend for residential and commercial based loans with lending at any stage of the entitlement process. Unlike traditional lenders, we do not require a credit check, as we perform lending based on the value of the asset and the borrower's experience level, not the borrower's credit score. We specialize in funding construction loans very quickly with the most competitive rates.
If you are an experienced builder or borrower preparing to build a new home or a multi-family property from the ground up, we can help. Due to the complexity of the construction process, we make loans for extensive rehab or new home building to experienced investors or borrowers, with attention given to the project budget and plans, along with the qualifications and experience of the general contractor.
To qualify for our hard money construction loan program, we require that the following conditions be met:
We do not limit the number of properties, which means you can leverage a single project or an entire portfolio. We also offer customized loan programs to suit the needs of your business. We lend up to 60% loan-to-value for a 12-month construction loan.
As construction is completed on the project, borrowers may submit a draw request for additional funds, which may be made directly to sub-contractors or suppliers or the borrower.
If you are interested in a hard money construction loan, get in touch with a representative from Direct Investors in Sacramento, CA today. We will help you create a customized loan program, because we realize that every investor has his or her own method of doing business. Count on us for fast loan funding and competitive rates to help you grow and expand your business.