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Frequently Asked Questions
Common Questions Answered for your convenience.
What are the eligibility requirements for a borrower?
We look for construction contractors or homebuilders who show profitable history with lender project loans and demonstrate strong character, credit, and management experience.
Can I use this line for multi-unit projects?
Yes. For 2+ unit projects, we offer LTV limits based on the value per unit, typically ranging from $200,000 to $500,000 per unit.
Are there any pre-payment penalties?
No. There are no pre-payment penalties, giving you the freedom to sell and exit projects as soon as they are completed.
Is there a charge for unused portions of the line?
No. There is no "unused charge," meaning you only pay interest on the funds you have actually drawn for your active projects.
What is the "Recourse" requirement?
This facility requires full recourse to all owners with a 20% or greater stake in the borrowing entity.
Are there restrictions on where I can build?
Projects must be located in approved states and in markets with a population of at least 25,000 people within a 3-mile radius to ensure healthy marketing times.