New construction loans for experienced investors up to 70% ARV.
For experienced investors and contractors, Paces Funding’s hard money loans for new construction offer investors a faster solution than traditional loans because we leverage our own money to fund your new construction hard money loan giving us more flexibility to work with you and customize the loan around your circumstances.
While all deals are unique, Paces Funding typically lends up to 70% AVR for our private hard money construction loans making us one of the best options for investors looking for the best hard money loan terms. We also have options for residential hard money loans, cash out home equity loans, commercial hard money loans, fix and flip hard money loans, rehab hard money loans & hard money loans for real estate investors.
Why get a New Construction Hard
For savvy investors taking on the challenge of building from the ground up or giving a preexisting home a serious makeover, a new construction private money loan is the way to go.
Our new construction hard money loan programs are designed to meet the financial needs for real estate projects that demand fast & flexible solutions. As a leading new construction hard money lender utilizing our own funds in Georgia, Florida, North Carolina, South Carolina, Tennessee, Texas & Virginia, we take pride in making FAST decisions customized around your project and requirements. Our focus is on building a lasting relationship with you, putting your success over the deal and working with you every step of the way.
Our new construction hard money loans are flexible and can be used in many circumstances including commercial projects, residential, home equity loans, fix-and-flip loans, rehab loans, and real estate investments. Throughout the entire journey, from buying the land to creating construction budgets and overseeing project milestones, we are wholly committed to guiding you toward success.
Fast Turnaround
Asset Based Lender
Competitive Rates
Less Paperwork
We care about YOUR success
OUR LOAN PROCESS
APPLY
ONLINE
Get started by filling out our easy loan application.
APPLICATION
REVIEW
Once we receive your completed application, we will review the application and one of our experienced loan officers will call you to discuss any additional information we may need.
ADDITIONAL
DOCUMENTS
After the Application review, the next step is for you to submit your purchase contract and renovation list. During this step we will also provide you with a Good Faith Estimate to review and approve.
PROCESSING &
UNDERWRITING
Once the Good Faith Estimate has been approved, we will then order an appraisal and title. Our construction manager will visit the property with the borrower to go over the bid sheet and construction that will be performed on the property.
CLOSING
& FUNDING
At this time we will set up the closing with our preferred attorney and send over the closing instructions/documents along with the wire to fund the transaction. The borrower is required to provide the necessary property insurance prior to closing.
New Construction Hard Money Lender Loan Terms
Renovate, rehab and resell your property with a hard money loan.
LOW Credit Minimums
NO Prepayment Penalty
Loans to Company or LLC
11% – 14% Interest Rates
Loan fee of 2.75-4.5 Points
Term – 12 Months
$0 Doc Fee
Loans from $25,000 to $20,000,000
Interest only payments
Up to 70% ARV
Lenders Title Policy Required
Close in 2 weeks
New Construction Hard Money Loan FAQ’s
How quick can you fund?
We have funded properties as quickly as 1 day. If there are no unusual circumstances (i.e. title issues, all required documents in hand), then the closing can proceed as soon as the appraisal has been completed and title is cleared. Usually this can be accomplished within 1 week to 10 days. You do your best and we will respond in kind.
How quick can you fund?
We have funded properties as quickly as 1 day. If there are no unusual circumstances (i.e. title issues, all required documents in hand), then the closing can proceed as soon as the appraisal has been completed and title is cleared. Usually this can be accomplished within 1 week to 10 days. You do your best and we will respond in kind.
Where do you loan?
We currently lend throughout the Southeast. Other markets will be added soon. If you have a project in another market, contact us and we’ll discuss if we can lend on it.
Do you make permanent loans?
Why are your rates so much higher than banks?
Do you make personal loans?
No. We only make loans for commercial, business and investment purposes.
Will you finance commercial properties or apartments?
We will look at multifamily projects from 2 units to 200 and more. Bring us office buildings, retail, industrial, lots to be developed, and new construction.
Will you finance commercial properties or apartments?
Does my credit matter?
I’ve been turned down at banks, is it possible for me to get a loan from Paces Funding?
What do LTV and ARV mean?
These are acronyms for loan to value (LTV) – the value of the property in relation to the loan on the property and after-repaired-value (ARV) – the value of the property after all improvements or construction has been completed.