Private Construction Financing
Up to 3-Year Fixed Interest Only Construction Loan
Loan is fixed for up to 3-years with interest only amortization. Loan is due at the end of the 3-year term. No prepayment penalty in most cases. Eligible properties include multifamily 5+ units, 1-4 unit residential, condos, office, retail, industrial, manufactured housing, self-storage, hotels, and healthcare. ICS Construction Loans are short-term interim loans designed for new constructions projects prior to securing long-term financing or disposition.
Max LTV: 90% | Max ARV: 75% | Max LTC: 80% to 100% | Min Credit: 650
FLEXIBLE - PRIVATE CONSTRUCTION LOANS
ICS specializes in Private Construction loans designed for vertical construction of projects such as multi-family housing, single-family housing, commercial, office, and industrial buildings. Our construction loans are underwritten against the completed value of the project providing more funding flexibility. As a project-oriented lending company, we make sure projects are fully funded between the loan and equity. Unlike a traditional construction lender, such as a bank, credit union, or FHA, our private construction loans do not have additional deposit requirements, nor do they have strict liquidity requirements.
As specialists in construction loans, ICS understand the funding needs of real estate developers, builders, and contractors. We structure an expedited draw process—as quick as 24 to 48 hours—providing quick access to cash. We structured loans with a pre-draw to cover land and soft costs if needed.
Land Development Loans
Our land development loans provide funding for the soft costs and entitlements required for development, such as hiring architects, engineers, and environmental and other consultants. We have a greater understanding and appreciation for land loans than many lenders. Our underwriting is based on the future completed value of the asset, allowing a greater loan-to-value than other lenders.
Heavy Rehab / Redevelopment Loans
Designed for major improvements on multifamily units and commercial, office, hospitality, and industrial buildings, our rehab loans cover major upgrades such as tenant improvements, studs-out remodels, expansions, and redevelopment. We have lower equity requirements (including cash on hand) than traditional lenders, and again unlike traditional lenders, we base our loans on the completed value of the improved building, not its existing condition. This leaves you with more funding for the project.