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New Commercial Construction Loans
Commercial construction loans are usually short-term loans whereby a borrower finances the costs of building a new structure.
These loans are tailored to the borrowers needs based the property type and the length of the construction period.
Principle Commercial has many years of experience assisting builders and contractors with finding the best source for their particular building project.
We specialize is obtaining favorable rates and terms for these time sensitive loans.
- Rates: Prime plus .5% to 2% or LIBOR plus 1.5% to 4%; depending on property type, loan term and underwriting guidelines.
- Terms: Typically 1 to 2 years with possible extensions (if necessary).
- Loan to value (LTV): Generally up to 80% LTV, depending on underwriting guidelines.
- Loan to cost (LTC): Generally up to 80% LTC, depending on underwriting guidelines. Principle Commercial does have investors that will increase the LTC higher than 80% in certain scenarios.
Principle Commercial offers commercial construction loans on a variety of commercial property types.
Do you have questions about construction loans?
Please Contact Us and an Account Executive will be in touch with you shortly.
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