Construction Loans

When it comes to construction loans and financing, you can rely on the team at Formula Mortgage Capital Corporation. A quick closing can mean the difference between a profitable project built on time and under budget or another lost opportunity. This loan is meant to cover the cost of land development and building construction, and is disbursed (1) as needed, (2) as each stage is completed, (3) according to a prearranged schedule, or (4) when some condition is met.

While banks are still in loan committee, Formula Mortgage Capital Corporation construction borrowers are out of the ground and building.

We work closely with the applicant/owner/builder to analyze the essential elements of the project, including the budget, plans, specs, permit status, site conditions, GC and the construction team. Our experience, knowledge and dedication is value added for both experienced professional builders and novices alike.

If needed, we also have the ability to and will work closely with our clients to provide an exit strategy or permanent financing at completion

Borrowing entities

• Owner, builder, spec or custom home construction
• Individuals, corporations, LLCs, partnerships, trusts, estates, international investors, etc.

Property types and requirements

• Spec residential – attached, detached, in-fill, high end fix & flips, multi-family or broken projects
• Commercial projects can include acquisition financing and asset repositioning
• Ground-up or construction completion and broken priority…and we can finance the acquisition, too