Construction Loan Lending Parameters

The strength/experience of the principal/sponsor is a key component for this private money construction loan program. Typically we will lend up to 75% of the cost of the project and we focus on shovel/ready construction projects.  See our other Hard Money Loan Programs.

Interest Rates: As Low as 9.00%
LTV: Up to 75% of Cost
Lien Position: 1st Trust Deeds Only
Loan Fee: Starting at 2 pts
Commitment Fees: CBC
Loan Amount: $500,000 and Up
Loan Term: 6-24 Months
Documentation: Stated Income
Underwriting Times: 48 Hours
Closing Times: 30 Days+/-
Geography: CA Only

General Guidelines

Brokers Accepted for All Loans < $2M.

For Loans > $2M, FK must deal directly with client.  Fees collected for referring broker by agreement.

Will consider outside of California for loans > $5M.

Strong verifiable income is a compensating factor.

Submission Requirements

Executive Summary
1003 Application or Financial Statement
Credit Report or Verbal of FICO Score
Resume of Borrower

Status of the Escrow (if applicable)
Description of Current Improvements
Description of Future Improvements
3D Renderings (if available)
PDF Copy of Plans (if available)
Rough Budget