Featured LoanGround-Up Single Family Construction Loan
Loan Amount: $925,000
Loan-To-Cost: 75% Total Cost (lot + build)
Loan-To-Value: 57% of Future Value
Situation & Challenge
First Capital Trust Deeds received a ground-up construction request from a builder who had a small loan on the vacant lot and wanted 100% Loan-to-Cost (LTC) to build an already permitted 2,700 square foot single family residence on the site.
Solution & Result
FCTD worked with one of our go-to lenders for private money ground-up construction financing in California to pay off the roll the small balance of the lot loan into a new $925,000 construction loan, giving the builder the desired 100% financing for the ground-up construction.
From initial application to underwriting and appraisal, the loan closed in 18 days.