Featured Loan Programs - More Details


Construction Loans

Construction loan programs are for experienced developers seeking financing for ground up construction. The provide terms up to two years at which point they must be converted to a conventional loan product or repaid by the sale of the project.

All loans are interest only and the loan will service the debt by using an interest reserve which is established at closing.

Prime based products are based on a spread over the Prime Rate of Interest and currently have a floor of 6%. These rates will only be offered to qualified borrowers and will of course require good credit and full documentation.

Other programs with higher rates may be more suited to borrowers who require speed and ease of closing and who require more flexible underwriting requirements.

Money is advanced as needed and your monthly payment is based on the amount of money you are using at any point in time.

Borrowers should have ample liquidity or additional collateral to pledge during the construction phase. A typical program could offer you up to 70% LTC but there are many other factors which go into determining your loan amount.

All loan submissions require a construction budget including both hard and soft costs and a projection of rental income and expense for the property as completed.


Click for more information about:

    Multi-Family - Mixed Use - Office - Retail
    No Prepayment Penalty
    Bridge Loans
    Special Use - Stated
    Special Use - Owner Occupied Only
    SOLO I - 95% Financing
    Construction Loans
    Hard Money - Construction Rehab
    Hard Money
    SBA Loans
    Owner Occupied Properties


Click here for Featured Tri-State (NY, NJ, CT) Loan Programs
Click here for Featured Nationwide Loan Programs


 
     
  Call Today 516-466-0200 for a free loan analysis and quote
or click here to apply online!

** NO OBLIGATION - NO UP FRONT FEES **

Many programs are available!
Click here to request more information!


North Coast Funding, Inc. - Your Commercial Loan Specialist
1010 Northern Boulevard, Suite 208, Great Neck New York 11021
Telephone: 516-466-0200 / Fax: 516-466-1270