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Commercial Short Term Construction Loan
For a Rate and Fees quote call
800-390-7536
Brokered Commercial
Construction Loan
This program is designed to provide a business loan to construct commercial property (Office Buildings, Retail Stores, Shopping Centers, Warehouse/Flex Space, 5+ Multi-Family Units and most other income generating properties).
General Guidelines*
- Loan Amounts: $100,000 to $5,000,000
- Loan to Value: Up to 75% of the appraised value based on the income approach. Cross collateralization allowed on other properties, if needed, for maximum or greater loan amounts.
- Deal Directly with Loan Officer/Underwriter
- Loans are available to Borrowers with excellent to less than perfect credit
- Flexible draw schedules
- Fast pre-qualification, typically within 3 – 5 business days, closing typically within 30 days (fast track closings in 14 +/- days available if certain criteria is met)
- 18 month term with extensions available under certain circumstances
- Pre-payment allowed without penalty
- Interest only payments based on funds drawn
- Land purchase may be included in the construction loan
- Full and limited programs available
- Owner and non-owner occupied commercial properties are eligible
- Foreign Nationals are eligible for this program
*All rates and terms subject to change without notice
Rates and Fees
(Based on credit score, income, savings and LTV)
- Rates: Prime Rate plus 2.50% to 4.50%+
- Loan Fees: 1.00% to 1.75%+
- Application Fee: $650
- Fast Track Closing Fee: $1,250
- Underwriting Fee: $450
- Maximum Broker Fee: 1.50% to 2.00% (subject to Broker Compensation option)
To start the pre-approval process, download the Loan Submission Form above and include a completed 1003, current Tri-Merge Credit Report and appraisal, if available.
