GROUND UP CONSTRUCTION
Our Ground Up Construction Lending Program provides efficient financing for all stages of construction. This program allows us to customize a construction loan to your specific investment project – whether it is complex ground up construction or an opportunistic value-add project.
JLJ offers financing for commercial projects and other real estate opportunities based on an evaluation of the borrower or broker’s business proposal/project summary, including a general valuation of the real estate.
Interest rates will be determined on a case-by-case basis, based on risk.
|LOAN TYPE||Ground Up Construction|
|LOAN AMOUNT||$30,000,000 - $100,000,000|
|TERM||1 - 36 months with extension options|
|INTEREST RATE||LIBOR plus 6.5% - 9% 7% fixed and up|
|LOAN TO VALUE||Up to 85%|
|LOAN TO COST||Up to 85%|
|PROPERTY COST||All types of property are considered - multi-family residences; single-family; condominiums; office and mixed-use buildings; retail, warehouse, and industrial spaces; undeveloped land; shopping centers; homes (non-owner occupied, including rehab/flip opportunities).|
|ORIGINATION FEE||1% - 3%|
|RECOURSE||Completion Guaranty (Good Guy)|
$5,000 for loans under $5MM
$10,000 for loans $5MM and up
|CLOSING TIMELINE||2 - 5 weeks|
|GEOGRAPHICAL FOCUS||Northeast, Southeast, Colorado, TX|
|USE OF PROCEEDS||Northeast, Southeast, Colorado, TXAcquisition, restructuring, discounted payoffs, purchase of notes, property improvements, partner buy-outs, recapitilazations, construction, conversions, pay-down of other debts and taxes.|