866-461-2695 ken@hardmoneyman.com

Hard Money New Construction Loans

Let HardMoneyMan.com Fund Your Next Build! We specialize in making spec loans for builders.

Hard Money New Construction Loans fast! 

Hardmoneyman.com LLC is the market leader for hard money new construction loans. We have made thousands of hard money new construction loans over the last 2+ decades.

While many lenders claim to make ground up construction loans, we have built houses ourselves and understand exactly what our borrowers are looking for in a lender on their deals.
With our commonsense underwriting and quick closings, you will never look for another lender again after closing your 1st deal with us!!

New construction spec loans require a lender that understands the whole process from acquiring the lot (or lots and putting the pieces of the land together), to entitlements, permits, approved plans and then most important, closing your loan and getting your draws done quickly.

Submitting your application package for a Ground Up construction loan is quick and easy

Hard Money New Construction Loans 

These are loans for builders with lots that you’re ready to go vertical on (shovel ready), or houses that need to be torn down and rebuilt, spec homes, model homes for subdivisions.

Overall Loan Criteria for New Construction

  • Minimum $150K Completed Value after the build
  • 620+ Mid Credit Score
  • Minimum 1 or more new builds and sales in the last 36 months
  • Rates Starting at 7.99%
  • 12-24 Month Term
  • Loan Amounts from $100k – $3M
  • This is for 1-4 unit residential and townhouses only

Lot Purchase + Construction

  • 620+ Mid Credit
  • 50-75% Lot cost
  • 100% Construction cost
  • 80-90% Total Loan to Cost
  • 65-75% Completed Value
  • Minimum 1 new build and sale in the last 36 months required

** The above percentages are based on credit and experience

Construction Funds Only (Lot Already Owned)

  • 620+ Mid Credit
  • 80-85% Loan to Cost
  • 65-75% Completed Value
  • Minimum 1 new build and sale in the last 36 months required

** The above percentages are based on credit and experience

Same Day Decisions on your Hard Money New Construciton Loan – Apply Now!  

Get Your Pre-Approval

Step 1 of 3

Please answer a few questions to see if your loan scenario is eligible for one of our hard money loan programs, or our landlord 30 year program.
Do you live at the property?(Required)

Hard Money New Construction Loans FAQ

1.  How long does it take to close my hard money construction loan? We can close and fund a ground up construction loan in as quickly as 10 business days.
2.  Will my spec home loan require an appraisal? Yes, we do require an appraisal on all spec home construction loans. We will do an as is value of the land as well as the completed value of the house when built.
3.  I’m a builder by trade, will you fund the soft cost in my construction hard money loan? We can fund some of them, mainly permits, architect fees, cost of the plans.
4.  Do construction hard money loans require ground up experience? We have two options for our hard money construction loans to show your experience, first is you must have bought, built and sold at least 1 house in the last 36 months. The other is if you have heavy rehab experience (at least a 125k rehab budget) on 3 completed flips in the last 36 months.
5.  Will you verify my experience to qualify for your hard money construction loans? Yes, we will require an REO schedule to be completed detailing your previous ground up construction loans.
6.  Do your hard money construction loans require a personal guarantee? Yes they do.
7.  Will you close my spec home loan in my personal name or do you require an LLC? We require that you take title for your ground up construction loan either in an LLC or a corporation.
8.  Does your company work with brokers? Of course!!
9.  Do your spec construction loans have a prepayment penalty? We do NOT have a prepayment penalty on our hard money construction loans