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Ground Up Construction

Ground-up construction loans for real estate investors are different from mortgages on owner-occupied properties in a few ways. First, this construction financing is a short-term loan, not a 30-year mortgage like FHA loans. The loan can be used to cover the costs of construction only, or of the purchase and construction of the property. If you choose to hold the property as a single-family rental, you may need to refinance into a permanent mortgage because the construction loan is a short-term note, unless you owned the property free and clear before beginning the construction project.

One of the key features of ground up construction loans is that they are typically offered by specialized lenders who have experience with construction financing. This can be helpful for borrowers who are unfamiliar with the construction process, as the lender can provide guidance and support throughout the project.

    Up to
    80%
    LTV - Purchase
    100%
    CONSTRUCTION COST

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    # Apply For Ground Up Contruction

    Ground Up Construction Loans

    Another key feature of ground up construction loans is that they typically have more flexible qualification requirements than traditional mortgages. This is because the loan is secured by the value of the land and the completed building, rather than by the borrower's personal credit history. As a result, borrowers who may not qualify for a traditional mortgage due to factors such as a low credit score or high debt-to-income ratio may still be able to obtain a ground up construction loan.

    One potential drawback of ground up construction loans is that they can be more expensive than traditional mortgages. This is because these loans typically require the borrower to pay interest-only payments during the construction phase, which can add to the overall cost of the loan. Additionally, ground up construction loans often require the borrower to make a larger down payment than is required for a traditional mortgage.

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    Testimonials

    "Josh Settersten, was AMAZING to work with. Really really good at what he does. Professional, trustworthy, good listener and tries to get you the best deal out there. I learned so much about getting a mortgage from him. He delivered on all fronts. I am glad I had him in my co
    "Josh helped tremendously throughout the entire process of purchasing our first home. He was excellent at communicating and overall exceeded our expectations. I would highly recommend working with Josh!"
    "I can not say enough great things about Brandon Wunder! Our loan was complicated to say the least, and Brandon and his team were there with me every step of the way! With every problem he communicated and found a way to solve them. I was so nervous about this process and Br
    "Groves Capital is the BEST!! Before purchasing my home, I spoke with several brokers and it was such a hassle. I mean seriously, the initial broker I was working with made me want to give up on buying a house entirely.. And then Groves Capital came along! This dream team rea
    "Great company and an awesome team to make it happen an easy and smooth process thanks guys."
    "I had the great pleasure of working with Josh. Not only was he super accommodating but he helped me every step of the way! For me personally, this was the first time I ever bought a home and I can certainly say that without Josh it would not have been as smooth! Thank you ag
    "June An is the best! Super attentive, responds quickly, and is always there for you every step of the way. I’ve used him for both second home loan, primary home refi, and heloc loans and every time has been a wonderful experience. He acquired great rates, handled all of my q

    # Apply For Ground Up Contruction

    Why Should You Choose Us?

    We're here to make the home loan process a whole lot easier, with tools and expertise that will help guide you along the way, starting with our simple Hard Money Rate Quote.

    • Customer Focused
    • Minimal Documentation
    • In-Houses Controls
    • Best Loan Services
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    Our Core Investing Service

    Whether you’re looking to purchase a new home or refinance your existing home,Groves Capital can provide all the help you need.

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    # Apply For Ground Up Contruction

    States We Lend In

    Looking for lending in a state not listed? We do lend in other states on a case-by-case scenario. Give us a call to see what we can do for you.

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    (866) 382-1466