Agree's New Construction Loan Program
We lend New Construction Mortgage Money, combined with a Purchase Money Mortgage, or a Refinance Mortgage Loan.
The New Construction Loan:
Our New Construction Loan Program can provide loan money for up to 90% of the "As Is" Property Value Plus 90% of the New Construction Expense. Of course the completed value must be sufficient to justify the mortgage loan amount too. In addition to construction of a totally new structure, our New Construction Program can fund the addition of an extension to an existing building.
Important: If Borrower already owns the land, Owner-Borrower may use the equity in the land to provide the borrower's 10% contribuition to the construction cost. We can then increase our loan amount and lend up to 100% of the Construction Expense.
New Construction Loan Amounts (This includes the purchase price of the land or the payoff of existing mortgages and other liens for Owner-Borrowers)
$3,000,000 to $100,000,000 or more. Exceptions may be requested to as low as $2,000,000.
Construction Period + 40 Years - Fixed Rate, Fully Amortized. No Balloon Payment.
Explanation: When the construction is completed, the loan will be converted to a 40 year fixed rate mortgage
Contact Us for Answers to your questions and recommendations for your plans:
Explain the scope of your plan, and we will provide you with:
a. Our Opinion as to the probability of a profit, based upon the numbers you provide us with (If you want it).
c. A Current Rate Quote, and a lending team with 30 years mortgage lending experience, lending to investors and business owners who want mortgage loans.
Agree Capital Corp.
Multifamily, Healthcare, &
Commercial Mortgage Bankers
inquiries@agreecapital.com
www.multifamilymortgage.info
Executive Offices:
(718) 380-7373
179-14 Union Turnpike
Flushing, NY 11366