A new construction hard money loan is a short-term loan used to finance the construction of real estate investment property. Hard money construction loans are frequently used to finance residential or commercial new construction projects. Typical construction loans run for six to twelve months, require interest-only payments – that are often bundled into the loan itself – and are funded in installments that follow a predetermined schedule of milestones.
At Capital Insiders, we understand the needs of builders and developers and know timelines don’t often go as planned. Construction loans are repaid when the work is complete, and the property is either sold or refinanced.Real estate investing is a growth industry, and good deals move quickly. At Capital Insiders, we take 24-hour decisions time for 48-hour funding response.
With most hard money loans, the loan amount is based on the construction cost. However, keep in mind that experience is essential for a new construction loan! Capital Insiders is willing to fund up to 85% of the total cost.
Unlike a conventional loan, which requires a significant amount of paperwork, a new construction loan requires relatively less documentation. Start your application today or give us a call for more information on how you can get the funding you need right away!
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