Construction Loans / Development Loans
Commercial Construction Loans, development Loans and Subdivision Loan Finance
Loan amount ranges from: $1,000,000 - $500,000,000
Pacific Mortgage Funding Corporation offer construction lending programs to help developers and
investors find stable and interest rate competitive construction loans for commercial and
residential development nationwide.
Our financing varies in the USA with local, regional and national construction loan programs to
offer the best mortgage financing available for an size of real estate development project.
Please review our Commercial Construction development and residential subdivision financing terms:
| Location: |
Nationwide |
| Type: |
We provide construction financing for acquisitions, refinances, and new construction of real estate properties. |
| Loan Options: |
Adjustable variable rate loans available. |
| Amortization: |
Interest only |
| Term: |
1 to 2 years interest only with extensions if necessary |
| Interest Rates: |
Prime + 0.5% to 2.0%, or LIBOR + 3.0% to 4.0% |
| Loan-to-Value: |
75% to 80% of completed value
80% to 92% Loan-to-Cost. (LTC) |
| Recourse: |
Typically yes, however we do offer non-recourse construction financing for
seasoned developers on larger loans. |
| Debt Service: |
DSCR on construction loans is 1.25% |
| Prepayment terms: |
No prepayment penalty |
| Collateral: |
Commercial real estate property for development |
| Property Types: |
All commercial and residential subdivision property loan types. |
| Requirements: |
Developer and contractor must have development experience. |
| Closing costs: |
Borrower is responsible for all loan due diligence and third party closing costs (Appraisal,
Environmental, site inspection, title insurance, etc)
Loans under $3,000,000 - closing costs range from $6,000 to $12,000
Loans over $3,000,000 - closing costs range from $20,000 or more |
Call or E-mail Us For a Free
Commercial Real Estate Mortgage Loan Evaluation
11924 E. Firestone Blvd., Suite 100 . Norwalk, California 90650
Office: 562.864.4006 . Fax: 562.864.6125
info@PacificMortgage.com
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