Ground-Up Construction Loans
Up to 100% loan-to-cost to build new homes, townhomes, and small multifamily, with construction funded in draws as you build.
Who it’s for.
Builders and investors putting up new construction — spec homes, build-to-rent, townhomes, and small multifamily. Lot purchases, teardowns, and building on land you already own all qualify.
What it can pay for.
- Lot purchase plus vertical construction in one loan
- Building on land you already own, using your equity in the lot
- Knock-down and rebuild
- Finishing a stalled or partially completed project
What lenders look at.
- Construction experience
- Completed ground-up or heavy rehab projects, as the owner or the GC. This is the single biggest factor in leverage on new construction.
- Plans, permits, and budget
- Approved or near-approved plans, a detailed construction budget, and a realistic timeline. Permit-ready projects close fastest.
- Completed value
- An appraisal 'as-complete' sets the ceiling on the loan. Comparable new construction sales in the area support it.
- Your general contractor
- Licensed, insured, and with a record of similar builds. Some lenders allow you to act as your own GC with enough experience.
Documents you’ll usually need.
Not to get started. The analyzer and the quote request need none of this. Once you choose a lender, you upload these through a secure portal with a checklist.
- Plans and specifications
- Construction budget and timeline
- Permits, or where they stand
- Contractor license and insurance
- Entity documents and two months of bank statements
- Track record of completed projects
Questions
Ground-Up Construction questions.
Can I use land I already own as my down payment?
Often, yes. The equity in a lot you own can count toward your share of the project. Choose 'Build on land I already own' in the application.
Do you finance build-to-rent?
Yes. Construction lenders in our network finance build-to-rent, and we can line up a DSCR rental loan for the refinance when the property is leased.
What if my project is already under construction?
Mid-construction refinances are possible. The lender will look at the work in place, the remaining budget, and the completed value.
Related programs
Financing to buy land and lots — with or without the construction loan attached — for investors and builders.
Up to 100% loan-to-cost to buy and renovate a 1–4 unit property, with the rehab funded in draws as the work gets done.
Up to 85% on purchases and rate-and-term refinances, and 80% cash-out, for 1–4 unit rentals qualified on the rent, not your personal income.
Let’s find out what you qualify for.
A few minutes online, a real person on the other end, and answers fast. No credit pull, and you owe us nothing unless your loan closes.