Hard money construction loans offer faster approval (days vs. weeks), require minimal documentation, and base approval primarily on the property’s value rather than extensive credit checks. However, they typically have higher interest rates (9-15%) and shorter terms (6-24 months) compared to traditional construction loans. Traditional loans offer lower rates but require extensive documentation, perfect credit, and longer approval processes.

We offer construction loans starting at $100,000 with no upper limit for qualified projects. Loan amounts are determined by the loan-to-value (LTV) ratio, typically ranging from 60-80% of the project’s after-repair value. For land acquisition, expect up to 60% LTV, while construction projects on owned land may qualify for up to 80% LTV.

Basic requirements include: a detailed construction plan with timeline and budget, 20-40% down payment, proof of construction experience or qualified contractor, property appraisal showing after-repair value, and an exit strategy (sale or refinance).

Required documents typically include: detailed construction plans and specifications, contractor agreements and licenses, project timeline and budget breakdown, property purchase agreement or deed, proof of down payment funds, contractor insurance certificates, and building permits.

Yes, we primarily focus on the property’s value and your construction plan rather than credit history.

Most of our  hard money construction loans have terms of 12-24 months. The loan typically covers the construction phase, with borrowers expected to refinance into permanent financing or sell the property before maturity. Extension options may be available for additional fees.