Silver Rock Direct has a wide array of construction programs to help the developer or builder fund most of his construction projects. Our programs are designed to provide a loan for a builder constructing a commercial property (office buildings, retail stores, shopping centers, hotels, warehouse/flex space, 5+ multi-family units and most other income generating properties).
Upon completion of the property, the loan may be converted to a permanent loan.
Loan amounts from $500k to $100 Million
LTV up to 65%* of the appraised value
*Cross collateralization allowed on other properties, if needed, for maximum (or greater) loan amounts
Land purchase may be included in the construction loan, up to 50% of the lot purchase price
Owner and Non-Owner occupied commercial properties are eligible
Self- Build/Owner builder borrowers are allowed
Fast pre-qualification, typically between 3 to 5 business days
Full income documentation and limited income programs
Loans are available to Borrowers with excellent to less than perfect credit
Flexible draw schedules
Up to 18-month terms available (longer terms available on an exception)
Our new construction program may be used as replacement hospital or construction of a medical office building, can be a necessary strategic option for hospitals seeking to increase revenues, improve operational efficiencies and or to enhance its healing environment.