Single family home

New Construction Loans 

Venus Capital is able to provide new construction loans -ground up construction financing to cover all of your real estate construction needs. This program offers an 18-month term and rates starting at 8.25% to make sure your project is well-funded from start to finish.

Ground Up Construction Loan Criteria

  • Collateral: Non-Owner Occupied Single-Family Properties, Condos and Townhomes
  • Minimum Property Value: $500k As-Completed Value
  • Term: 18 Months
  • Loan Amount: $500k – $3M (all states except CA, NV, Dakotas, MN)
  • Multi Family Vertical or Development projects from $2mn to 30mn (except NY, NJ, Dakotas, CA)
  • Rates: Starting at 8.25%
  • Minimum FICO: 680

We can do Multi Family Construction Loans from 500k to 30mn 

 

Ground Up Construction Loan (SFH) -Program Types

Required : NEW CONSTRUCTION LOAN PROGRAM ASSUMING ENTITLEMENTS, PERMITS & APPROVED PLANS

Tier 1 (Completed 10+ Ground Up Construction Projects)

  • Initial Loan Amount- Upto 75% of As-is Value (purchase or refinance)
  • Maximum Loan Amount – Upto 75% of ARV and Upto 90% of LTC

Tier 2 (Completed 7-9 Ground Up Construction Projects)

  • Initial Loan Amount- Upto 75% of As-is Value (purchase)
  • Refinance upto 60% of as-is value
  • Maximum Loan Amount – Upto 70% of ARV and Upto 85% of LTC

Tier 3 (Completed 3-6 Ground Up Construction Projects)

  • Initial Loan Amount- Upto 70% of As-is Value (purchase)
  • Refinance upto 60% of as-is value
  • Maximum Loan Amount – Upto 65% of ARV and Upto 80% of LTC

At least one borrower or guarantor must have the number of qualifying pieces of experience as shown above or equivalent experience in the past three (3) years and at least one (1) year in the business of acquiring real estate for investment purposes or renovating real estate.

Final loan terms may vary based on loan types, verification of application information, and other risk-based factors.

How Can You Apply?

The experts at Venus Capital are eager to explore all the ways we can help your company succeed. To set up a consultation, give us a call today (614)-392-4111

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