DIRECT PRIVATE LENDER - Questions about broker partnership?
Get in touch with our team at (949) 229 5155 or brokersupport@EBSC-Lending.com
Construction
Loan.
New construction are short-term loans used to finance the building or renovation of a home or real estate project. The initial draw will be calculated based on the As-is Value of the Property and the renovation budget will be advanced in construction draws.
Standard Loan Terms
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Max Loan Amount: $10,000,000 - $100,000,000
Max LTC/ARV (Loan to Cost / Loan to After Completed Value):
– Experienced Investors: The Lesser of 90% LTC or 70% ARV.
– Inexperienced Investors: The Lesser of 85% LTC or 55% ARV.
Rate: Starting at 10.5%
Term: 12-24 months
Payments: Interest Only with balloon at maturity.
Prepayment penalty: None
Standard Closing Costs
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Origination Fee: 1-5%
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Underwriting Fee: $1,500
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Legal: $750 – $1,500
Appraisal Fee: $500-$950
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Title Insurance and recording fees: 1%
(Approximate)
Standard Closing Time.
10 - 20 days.
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EBSC Lending is a direct lender and does not rely on other institutions to close the loans. Once the title work and appraisal are ready, We will be too!
