Loan Products
Subdivision Construction Loans
We originate construction loans for homebuilders of subdivision projects.
Features:
- Target Project: 2 to 30 homes (larger subdivisions can be phased)
- Loan Amounts: $1 Million to $10 Million (larger projects may be phased into multiple loans)
- Property Types: Single family and multi-family homes; stacked condos not permitted
- Project Types: Financing available for land acquisition, development, and construction
- LTV: Up to 80%
- LTC: Up to 85%
- Product Availability: Statewide
- New projects only- Refinance not permitted
NeighborWorks Resource Group meets the needs of homebuilders!
Online servicing that provides faster draws with 24/7 online draw requests (5 days for hard costs and 48 hours for soft costs) AND automated inspections/disbursements upon draw requests, which helps make the builders’ businesses run faster.