Construction Loans     

If you want to build it, People’s Choice can get construction costs funded!

Our construction loan makes ambitious projects doable.  With LTV's as high as 70% and Loan To Cost up to 100%, why would you want to lose profits a partner? 

Fast, Creative and Flexible Funding.

LOAN AMOUNT:  $500,000 and up.

BORROWER:  Owner/developer with track record.

LOAN TERM:  1 to 3 years, interest only

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PREPAYMENTS:  Loans may be prepaid at any time, after a possible lockout period, most with no prepayment penalties.

INTEREST RATE:  Rates start at 12%.  Interest is paid monthly on the amount drawn based on the disbursement schedule. 

COLLATERAL:  First mortgage on land, existing structures, and future structures.

LTV RATIO:  Up to 75% of the as-is value and up to 100% of development costs.

USE OF LOAN:  Proceeds may be used for construction costs, real estate acquisition and related costs.

ITEMS NEEDED:  Completed loan application, title report, appraisal, project overview, proposed building plans, cost projection for disbursement schedule, exit and re-payment plan, proof of funds for purchase of land and occasionally some other financials.

FEES: Varies from project to project

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