Introducing Our New Flagship Residential Ground Up Construction Program. Money Source of America is a great option for financing if you are looking for private funding for a new construction project. Will provide funding for purchase, construction or refinance currently owned property. You don’t have to provide extensive documents or put down a large down payment if you are seeking funding for new construction. We do not require you to verify your income, asset or reserve verifications, which is another benefit to working with Money Source of America especially if you are self-employed or working on multiple projects to fund one another at the same time. We even have a 100% LTC Program if you own the lot or pay cash for it,
If you have a project with strong potential, we would love to discuss what it would take to get it off the ground. Go fill out a Loan Proposal Summary today so we can get started on your project as soon as possible.
Flagship Residential Spec Loans
Loan Parameters
- Property Types: Residential 1-4 unit investment properties only
- Purchase , Construction , Refinance
- Rate: 8-12 % interest only
- Payment Escrow Included in the loan
- LTV: 75 % of the completed value
- LTC 90%
- Advanced Draws
- Do one or multiple properties
- Loan Term: 6 - 24 months extensions available
- Only One Prior New Construction Required
- Credit/Income: minimum 660. We do not have specific credit or income requirements for our new construction loans. We base our approvals on the project and the builders experience level.
- Minimum Down Payment: Typically need 10 % of total cost for down payment. Will use equity in the land or lot if owned free and clear or can do the Construction/ Refinance program below. NO Money out of pocket
100% Premier Ground Up Construction
Best for Investors interested in the land intended for ground-up building of 1 to 4 unit non-owner-occupied properties looking for non-bank financing solutions
- Property Types: Residential Investment 1-4 unit
- LTV 75% of the After Constructed Value
- Rate 8-12% interest only
- Payments Included
- No Asset , Income or Reserve Verifications
- 660 minimum credit score
- will allow partners to added to LLC for score and or experience
- Up to 24 month Term
- No Down Payment
- No Prepayment penalty
- Must own property or purchase with Cash
- Must lay foundation slab or built up
- Will Refund cost of foundation and may qualify to refund cost of lot.
A new way to spec home lending. Only here at the Money Source of America. Click Get Approved to Get your project funded today!
See Below; Recent 7 home project we just funded in South Florida
