Construction Loan

New Construction

  • Approx. 65% loan to cost, set up in a minimum of 5 draws
  • We’ll usually want to see the borrower put in their 35% first, over the beginning of the project to show skin in the game, we’ll fund the rest
  • We’d want permits in hand or in process, streets in place, utilities about ready to go

Required Documents For Approval:

      • Construction Cost Proforma
      • Rental / Sales Proforma
      • Land Description & Acquisition Information
      • GC Contract for Construction
      • Renderings and Drawings
      • Plans, if finished
      • Area FeasibilityEnvironmental, if available
      • Appraisal, if available
      • Personal Financials of the key Principals
      • Financials of the Entity
      • Resume for each key Principal
      • Project Description
      • Loan Request With Breakdown of Equity

Main Source Capital also offers competitively priced construction loans for income-producing properties such as office buildings, shopping centers, warehouses, hotel/resorts, apartment buildings or condominium buildings, residential subdivisions to spec homes and more. Whether the project is new or has been stalled or in need of bridge, we can help.