| Types of Projects | Single-family home, 2-4 family properties, townhouses and condos |
| Max Term | Up to 15 months |
| Details | Interest-only loan, first position |
| Loan Amount | $100K+ |
| Loan to Cost (LTC) | Up to 85% |
| Construction Costs | Up to 100% |
| Exit Strategy | Sell, Rent + Sell, Rent + Refi Out |
| States | Currently lending in 35 states (see map below). |
| Types of Projects |
| Single-family home, 2-4 family properties, 5+ multi-family, townhouses and condos |
| Max Term |
| Up to 15 months |
| Details |
| Interest-only loan, first position |
| Loan Amount |
| $50K+ |
| Loan to Cost (LTC) |
| Up to 90% |
| Construction Costs |
| Sell, Rent + Sell, Rent + Refi Out |
| Exit Strategy |
| Sell, Rent + Sell, Rent + Refi Out |
| States |
| Currently lending in 35 states (see map below). |
How is a New Construction Loan Different Than Other Hard Money Loans?
New construction loans differ from rehab loans in that the loan needs to accommodate the supplies, labor, inspections, etc. to construct the property — as well as the completed project.
Who Do We Work With?
Frequently Asked Questions
A construction loan is a type of bridge loan or hard money loan. The loan is secured by the value of the asset to be built. The loan covers a portion of the cost to purchase the land, if needed, as well as the supplies, labor, etc. to build the property. The leverage is based off of the value of the finished property.
Yes. We have the capability to fund up to 100% of construction costs. Similar to other funding mechanisms, after closing we'll hold a portion of the construction funds in escrow and release them as project milestones are met, subject to inspection.
Yes. Many borrowers refinance out of the Upright loan, or rent the property and refinance out into a long-term loan.