Los Angeles Private Lender Expands into Distressed Residential Market
October 17thHOME BUILDER LOANS THAT MAKE SENSE
Capital Funding Corporation Lending provides home builders with dependable access to non-recourse Construction and Acquisition & Development (A&D) loans for for-sale residential development in the bi-coastal regions of the United States. Backed by the fully-integrated financial services platform of Capital Funding Corporation, and industry professionals with proven expertise in construction lending, Capital Funding Corporation Lending is a reliable capital source for home builders coast to coast. The limited traditional bank financing has left home builders with fewer options for construction and A&D loans. Capital Funding Corporation is one of the first private lenders to re-enter this area of finance since the financial crisis. Capital Funding Corporation focuses on entry-level to luxury projects, including detached single-family homes, townhomes and condominiums. Capital Funding Corporation Lending is a dependable debt source for builders with projects that exhibit sound feasibility, quality design and a defined competitive edge.
WHY CAPITAL FUNDING CORPORATION LENDING ?
- Non-recourse construction loans from $3M to $50M, higher in select cases
- Fast turnaround time on lending decisions
- Local market expertise
- Up to 85% LTC / 75% LTV for qualifying projects
- 12 to 36 month terms, with 48 month terms in select cases
BUILDER LENDING PROGRAM OVERVIEW
Territory: | NATIONWIDE |
Property Types: | For Sale Residential Housing: detached, townhomes and condos (no mid-rise or high-rise {+ 3 stories}) |
Scope: | A&D and Construction financing for production housing. No purely land development financing Max # lots/units: 100 with ability to go higher on an exception basis Entitlements: Tentative Tract Map |
Collateral: | First deed of trust Loan Size: $3 million minimum; $35 million maximum with ability to go higher on an exception basis |
Recourse: | Non-recourse on repayment. Completion guaranty and environmental indemnity required |
Leverage: | Up to 80% LTC “blended” meaning max 85% LTC on vertical and max 75% LTC on A&D |
Pricing: | Prime based rate with a floor; 1% per annum commitment fee; exit fee based on sales price of unit- amount dependent on LTC |
Pricing: | Prime based rate with a floor; 1% per annum commitment fee; exit fee based on sales price of unit- amount dependent on LTC |
Term: | Maximum 36 months with an ability to go to 48 months on an exception basis |
Amortization: | None, I/O |
Latest News
Two Real Estate Powerhouses Unite to Offer Information, Capital
October 17thHousingwire
October 17thSan Francisco Chronicle
October 17th