Construction Reimbursement Loans
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Say hello to Fix-and-Flip One-Stop-Shop Financing!
One of the biggest investment deal killers is running out of money in the middle of a renovation. B.E. Lending's construction financing is our proactive loan product, offered to ensure borrowers' successful project completion and provide investors a tool to avoid projects stalling due to lack of funds. Construction Reimbursement Loans supplement our Hard Money Loans and are used solely to finance Fix-and-Flip projects. In order to finance a renovation process, B.E. Lending must have first lien position on the property. Construction Loan Types
Fix-and-Flip Projects Ground-up New Construction Property Additions Lot Developments Joint Ventures* *Have a deal needing a joint venture partner? Call us. |
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Construction Reimbursement Loan Breakdown
Interest Rate |
Reimbursement value |
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Same as Acquisition Loan
*construction financing will always be an extension of the acquisition loan |
80% max
*of Estimated Construction Budget (must be itemized) |
Minimum Draw Amount |
Draw Fee |
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$10,000
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$175 per draw
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Stipulations
Acquisition Loan & Construction Funds must be within 70% of the ARV (After Repair Value).
Construction Reimbursement Loans must be requested prior to the funding of the Acquisition Loan.
Borrower does NOT pay on construction funds until Reimbursement Draws are actually issued.
There are NO penalties if funds are not used.
Site inspections are completed upon draw requests.
CONSTRUCTION FINANCING PERK
Funds are not required to be used. In the case that the project financed is completed without the assistance of the Construction Reimbursement Loan, the borrower may pull those funds and use them toward the next project.
Construction Reimbursement Loans must be requested prior to the funding of the Acquisition Loan.
Borrower does NOT pay on construction funds until Reimbursement Draws are actually issued.
There are NO penalties if funds are not used.
Site inspections are completed upon draw requests.
CONSTRUCTION FINANCING PERK
Funds are not required to be used. In the case that the project financed is completed without the assistance of the Construction Reimbursement Loan, the borrower may pull those funds and use them toward the next project.
1 North 1st Street
Suite 755 Phoenix, AZ 85004 MB 0930346 | NMLS 1359227 480-706-0260 |
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© COPYRIGHT 2015. ALL RIGHTS RESERVED.
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Bennett Capital, LLC, DBA B.E. Lending (NMLS ID 1359227). 1 North 1st Street, Suite 755, Phoenix, AZ 85004. Arizona Mortgage Broker License MB #0930346. B.E. Lending only lends for business purposes. B.E. Lending is either licensed or exempt from licensing requirements of all states in which it operates. Your specific facts and circumstances will determine whether B.E. Lending has the authority to approve loans in your specific jurisdiction. Consistent with Federal Fair Lending Laws, B.E. Lending does not discriminate based on race, color, religion, national origin, sex, age, handicap, marital status, familial status or because all or part of your income may be derived from any public assistance program.
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