PFSG
New Construction Funding Options
Many Real Estate Investors are contractors and or builders who not only rehab properties, but also build properties from the ground up and they seek new construction funding. There are also real estate investors who see the opportunities for great returns that exist in new construction versus rehabbing. FBC Funding offers multiple new construction funding options for new and experienced ground up construction builders. We even have programs to finance all three phases of the new construction process for residential properties up to 20 units. The three phases include purchasing the lot, horizontal lot development and vertical home construction.
Many lenders only offer vertical construction financing options. A few will offer lot purchase financing. But for experienced investors and builders we offer financing for all three levels of ground up new construction.
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Program 1
New Construction Funding Credit Line: $200,000 to $10,000,000 – (Based on experience, liquidity and net worth.)
Minimum Credit Score: 680
Experience: Must be Gold Tier with at least 5 completed projects (new construction, fix and flip, rentals) with at least 1 being new construction.
Lot Purchase: up to 75% of the purchase price
Lot Development: No – must be developed
Vertical Construction: up to 90% LTC SFR @ 75% of As Completed Value
Interested Payments: Drawn Balance Only
Payments are escrowed in the loan ie. no monthly payments
Funds not sourced or seasoned
Program 2
New Construction Funding Experienced Builder : $500,000 to $30,000,000
** Minimum Credit Score: 660 (exceptions for experience and liquidity)
** Experience: at least 3 completed fix and flip and /or new builds (minimum of 1 completed new build)
** Lot Purchase: up to 65% of the purchase price
** Lot Development: up to 85% of horizontal development
** Vertical Construction: up to 85% LTC
** Property Type: SFR, Town Homes, Condos, townhomes, multifamily to 200 units, subdivisions
** Interested Payments: Drawn Balance Only
Program 3
New Construction Funding Program: up to 10 Projects funded simultaneously based on experience, credit and liquidity
** Minimum Credit Score: 680 (exception to 620 based on experience, credit and liquidity)
** Experience: At least 1 Ground up or multiple Heavy rehabs
** Lot Purchase: up to 75% of the purchase price
** Lot Development: No – must be developed
** Vertical Construction: up to 90% LTC SFR @ 70% of As Completed Value
** Interested Payments: Drawn Balance Only
PFSG also has additional ground up new construction funding with options of 100% vertical construction the builder owns the lot.