New & Ground-Up Construction
Hard money construction financing, lot to completion, for builders and investors, $100K to $2M, with the build funded through draws as the work gets done.
Maximum leverage shown. Actual LTC/ARV may be reduced based on property location, appraisal, market conditions, borrower experience, credit, liquidity, project scope, property type and other underwriting factors. Terms subject to lender approval and program guidelines.
Your lot is usually the biggest piece of equity in a new build. Here is how it counts.
Your land equity can count toward your required equity in the project. For a lot you bought recently, it is valued at the lower of your documented purchase price or cost basis and the current appraised value. If you have owned it long enough, typically up to 12 months, we may recognize the full current appraised value. All land value and equity credit are subject to appraisal and underwriting.
We then fund the construction budget through draws, up to the lower of 80% of total project cost or 65% of the completed value.
Yes. The lot purchase and the construction loan can close at the same time, with the lot counted in total project cost, up to the lower of 80% of that cost or 65% of the completed value.
Raw land without an approved build plan is not financed on its own. We lend on lots with plans ready to build.
The construction budget is held back at closing and released in stages as work is completed.
Your itemized budget becomes the draw schedule, so both sides know what gets funded at each stage.
When a stage is complete, submit a draw request for that line of the budget.
A third-party inspection service confirms the completed work before funds go out.
The draw is funded against the completed work. Interest is charged only on funds that have been disbursed, not the full loan amount, and an interest reserve can be built into the loan.
The more of this you send up front, the sooner we can issue a term sheet.
No. VeeCasa Funding makes business-purpose loans only, on homes built to sell or rent, and the loan closes in your LLC or corporation.
Up to the lower of 80% of total project cost (land plus construction) or 65% of the completed value, from $100,000 to $2,000,000.
Land equity can count toward your required equity. A recently bought lot is valued at the lower of what you paid (your documented cost basis) and its current appraised value. Once you have owned it long enough, typically up to 12 months, the full current appraised value may be used. All credit is subject to appraisal and underwriting.
Yes. The lot purchase and the construction loan can close at the same time.
Yes, experience is required. What qualifies is reviewed case by case, based on your completed projects and the team behind the build.
Yes. The minimum credit score is 650. Below 650, we may still lend when the loan is 50% or less of the lower of total project cost or the property’s value. Borrowers cannot be involved in pending litigation or open liens. Beyond that, the deal, the budget, and the exit carry the most weight.
Nationwide, for business-purpose residential construction.
Tell us about the deal. We will come back with a term sheet or a straight answer.
Maximum Loan-to-Cost (LTC) and After-Repair Value (ARV) percentages shown are guidelines only and represent maximum potential leverage, not guaranteed loan terms. Actual leverage may be reduced based on the overall risk profile of the borrower, property, and project.
Factors that may result in lower LTC and/or ARV limits include, but are not limited to: rural or sparsely populated locations; declining or unstable property values identified by the appraisal or other market data; excessive housing inventory or extended marketing times; limited comparable sales; unique, specialized, or non-conforming properties; low marketability or liquidity; high renovation or construction costs relative to property value; extensive or complex rehabilitation; borrower experience; credit profile; liquidity and reserves; project feasibility; appraisal findings; title or property-condition concerns; and other geographic, market, collateral, or underwriting risks.
Loan amount, LTC, ARV, interest rate, fees, term, and other conditions are determined on a case-by-case basis and are subject to lender underwriting, appraisal, due diligence, program requirements, and final approval. Programs, guidelines, and terms are subject to change without notice. Not all borrowers or properties will qualify for maximum leverage.
Loan amount is limited to the lower of the stated percentage of total project cost (LTC) or of the after-repair value (ARV). Examples on this page are hypothetical and are not a quote.
* DSCR rental loans are arranged through a partner lender and are not funded directly by VeeCasa Funding. Terms and approval are set by that lender.
VeeCasa Funding LLC makes loans for business and investment purposes only, secured by non-owner-occupied real estate, to business entities only. These are commercial loans. They are not consumer mortgages, are not intended for personal, family, or household use, and are not subject to NMLS or SAFE Act licensing. Loan programs, terms, leverage, and availability are subject to underwriting, property review, and credit approval, and may change without notice. Not a commitment to lend.
VeeCasa Funding LLC · 301B Amboy Ave, Woodbridge, NJ 07095 · (732) 314-1874
VeeCasa Funding LLC · 301 Amboy Ave, Woodbridge, NJ 07095 · (732) 314-1874
Loans are for business or investment purposes only and are not available for personal, family or household use or for owner-occupied property. Loans are made to entities (LLCs and corporations). Approval is subject to underwriting, property evaluation and eligibility; terms vary by loan. *DSCR rental loans are arranged through a partner lender and are not funded directly by VeeCasa Funding.
