Frias Financial has a wide array of construction programs to help the developer or builder fund most of his construction projects. Our programs are designed to provide a loan for a Builder constructing a commercial property (Office Buildings, Retail Stores, Shopping Centers, Hotels Warehouse/Flex Space, 5+ Multi-Family units and most other income generating properties).
- Upon completion of the property, the loan may be converted to a permanent loan.
- Loan amounts from $500k to $100 Million
- Loan amounts up to 80%* of the appraised value
*Cross collateralization allowed on other properties, if needed, for maximum (or greater) loan amounts
- Land purchase may be included in the construction loan, up to 50% of the lot purchase price
- Owner and Non-Owner Occupied Commercial properties are eligible
- Self- Build/Owner Builder Borrowers are allowed
- Fast pre-qualification, typically between 3 to 5 business days
- Full income documentation and limited income programs
- Loans are available to Borrowers with excellent to less than perfect credit
- Flexible draw schedules
Up to 18-month terms available (longer terms available on an exception
Our new construction program may be used as replacement hospital or construction of a medical office building, can be a necessary strategic option for hospitals seeking to increase revenues, improve operational efficiencies and or to enhance its healing environment.
We can help you finance a new construction project with a variety of funding structures, including rated and nonrated tax-exempt bonds, and debt offering credit enhanced by commercial or agency options, including the FHA-HUD sec. 242 program and USDA loan programs
LOAN SIZE $500k to $100 Million
INTEREST RATE Bank / Conventional – 6% Floor, Prime Based
Hard Money – 11 to 13%
TERM 1 to 5 year term with extensions available
LOAN TYPES Construction, Acquisition & Development
LOAN to COST Up to 65% TO 90% Loan to Cost
PROPERTY TYPES All property types including Multi-Family / Retail/ Medical/ Office/Hotels/Industria/Warehouse, Rehab, Affordable Housing, Assisted Living Facilities, Student Housing, Seniors Housing, and Mix Use.
MARKETS Nationwide Primary Markets
CLOSING Conventional: Typically 60 day /Hard Money: 3 to 4 weeks