Residential Construction Financing

This program is for “for sale” residential development and construction

• Single family homes, condos and town homes (stick built, no high rises)
• Up to 85% LTC for land acquisition, development and construction
• $3 million minimum loan amount(some areas may be higher)
• 100 units max per loan
• Entitlements must be in place
• Available: CA, TX, NV, WA, OR, FL and N&S CAROLINA
• Prime based interest rate with floor of 6.5%
• Subordinated debt acceptable
• Non-recourse
• Low credit scores may be acceptable
• Borrower needs to have some liquidity in event of cost over runs
• Lender parent company has $12 B liquid

Initial Documentation To Receive LOl:

• Resume with track record
• Financial statement including all assets and liabilities
• Construction budget
• Revenue projections
• Month by month use of loan proceeds
• Site/floor plans
• Area location map
• Itemized list of cash in to date
• Loan request summary

For more information on this and other lending programs, please contact Bill Lewis at (831) 429-9200 or blewis@lewis-financial.com.