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Ground-Up Construction
Ground-Up Construction
Purchase LTC
Up to 60%
Construction LTC
Up to 100%
Total Hard Cost LTC
Up to 75%
LTV ARV
Up to 65%
Rates (With points)
From 8.5%
Rates (No points)
From 10.7%
Experience
Required
Minimum FICO
650
Property Types
Single-family, Multifamily, Mixed-Use, Condos, Townhomes
Min Loan Amount
$300,000
Max Loan Amount
$8m
Loan Term
Up to 24 months
Are you a real estate developer looking to build a brand-new house from the ground up? Accolend partners with real estate developers to provide the funding they need to both purchase and build properties, all while providing the low-cost capital investors need to secure their margins.
Our in-house underwriting and draw management teams are poised to help our investors with the pragmatic approach needed to close your deals. Our no-points, high-leverage, ground-up loan programs have helped our borrowers build properties nationwide, and have saved them tens of thousands of dollars in the process.
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Loan process steps
1
Apply for loan
You provide us with the application, including property and deal information.
2
Receive our Terms
We send you the proposed terms of our loan, outlined in a term sheet that includes all relevant expenses and documentation requirements.
3
Loan Underwriting
Our underwriting team sets up your loan on our website portal to ensure a smooth documentation submission process. We coordinate with vendors such as appraisal and inspection companies, title, insurance, and legal counsel to facilitate seamless communication. Please click here for an explanatory video.
4
Loan Closing
We work with you, your legal counsel, and the title company to schedule a closing date. On the closing date, we review all executed documents from your lawyer or the title company/closing agent and wire the funds.
5
Draw Management
You reach out to our draw manager with your draw request. A property inspection will be scheduled to verify completed work, and upon satisfactory completion and review, we will fund the draw. Please click here for an explanatory video./closing agent and wire the funds.
6
Payoff
Our servicing team will assist you with extension and/or payoff requests. Extension approval requires 30 days of advance notice and the completion of an extension application/closing agent and wire the funds.
Why Accolend
Competitive Rates
Fast Service
Certainty of Execution
No Points
Frequently Asked Questions
Do you finance soft costs?
No, we do not finance soft costs.
Do you lend to LLCs?
Yes, we lend to LLCs for all our programs.
Do you charge prepayment penalties?
There are no prepayment penalties for loans with points. For no-point loan programs, the minimum term is twelve months.
What is the closing time for ground-up Loans?
Closing time for ground-up construction loans is 5-12 business days.
Do you require any appraisal for ground-up loans?
Yes, a full appraisal will be required, including the interior.
What will you need to verify my experience?
We will need your HUD-1 or property deeds to verify your experience.
Do you allow second liens on your loans?
Second liens on our transactions are not allowed.
Do you work with brokers?
Yes, we work with brokers. We have lot of broker-friendly programs.
What is your acreage limit?
The maximum acreage is 2 acres per property.
Do you require personal guarantees for ground-up loans?
Yes, personal guarantees are required for ground-up loans.
Do you require previous ground-up experience?
Yes, but we can consider exceptions for borrowers who have completed at least three large-scale renovations with increased SQFs or full-gut rehabs.
What are your closing fees?
Our closing fees depend on the size and complexity of the deal.
201-643-6650 x 1
sales@accolend.com
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