Are you looking for a Construction Loan in Florida?
Quick Close Loans primary commitment is to process and close our customers business commercial loans FAST. Some say we close our loans at Warp speed, (1-4 weeks).
We also have the most affordable closing cost due to the fact most of our lending is based on low-doc and no-doc requirements. Therefore, the borrower is not paying for the multitude of Bank required documents. The borrower will have a much lower closing cost.
Short-term (usually 3 years) real estate financing secured by a mortgage on the property being financed. This loan is meant to cover the cost of land development and building construction, and is disbursed (1) as needed, (2) as each stage is completed, (3) according to a prearranged schedule, or (4) when some condition is met. Construction loans are paid off from the proceeds of permanent financing (usually for 20 to 30 years), which in turn is repaid from the cash flow generated by the completed building, and is arranged before the construction loan is disbursed. Also called building loan, construction mortgage, or development loan.
- Loan amounts from $100,000. to $3,000,000.
- Loan 80% CLTV 75% LTV
- Rate 8.25% – 11.25%
- Land purchase may be included in the construction loan.
- Quick pre-qualification, typically within 3 business days
- Loans are available to Borrowers with less than perfect credit
- Flexible draw schedules
- 1 to 4 SFH
- 18 month construction term
- We work with the following – RESIDENTIAL INVESTORS – SPEC HOME BUILDERS – GENERAL CONTRACTOR/INVESTOR
***** NO UPFRONT FEES CHARGED *****