Hard Money Loans for New Construction
If you’re completing a new construction for real estate, it can be an overwhelming project. There are so many things to do, and financing is a big part of that. However, many lenders feel that construction loans are risky because management and loan officers must scrutinize each detail for the project before they can even decide if they’re going to provide funding.
There are mountains of paperwork to muddle through, and the construction company and lender have countless discussions. This is the norm for most transactions, but it can be costly, time-consuming, and put delays on the project.
Your plans and schedule are bound to get delayed. That causes significant concerns for the project and your company. On top of that, you may not meet deadlines to get the property. You could also have additional expenses relating to the financing delays, which cost you more and hurts your bottom line.
With all those issues looming ahead, you may want to consider another option. Hard money loans for new construction are an alternative. This financing form could help you get your project done within the budget and on schedule.
We provide loans for builders with shovel-ready lots or teardown projects. Spec houses or model homes, infill, teardown, or subdivisions.