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New Construction Loans

Ground-up construction loans for DC, Maryland and Virginia builders.

Financing from $50,000 to $2M for infill homes, townhomes, tear-down rebuilds and small multifamily on shovel-ready lots. Non-recourse available, no minimum FICO and no appraisal required. All experience levels considered.

Apply for New Construction (202) 595-5472

$50K–$2MLoan size

85% LTCUp to, of total cost

75% LTARVUp to, of after-repair value

No FICOMinimum

Built for Builders

Build it new, then sell or hold

The loan is sized on the project, the budget and the exit, not your personal income.

New Construction

Ground-up and tear-down rebuilds

$50K – $2MUp to 85% LTCDraw schedule

Infill single-family homes, townhomes, tear-down rebuilds and small multifamily builds, funded through a budget and draw schedule set at closing.

Up to 85% of cost and up to 75% of after-repair value
Non-recourse available (standard carve-outs)
First-time builders considered
No minimum FICO, no appraisal required

Apply for new construction

Shovel-Ready Lots

Approvals in hand, utilities at the lot

No raw land

We finance lots that are ready to build: approvals in hand and access to water, sewer and electricity. Raw or unentitled land is not eligible.

Approvals in hand before closing
Water, sewer and electricity access
Land owned or under contract

See the checklist

Build, Then Hold

Refinance into a rental loan

DSCR exit30-yr options

If the finished home rents better than it sells, our DSCR program can pay off the construction loan so you keep it as a long-term rental.

Takeout planned before the loan funds
Qualifies on rent, not income

See DSCR rental loans

Key Terms

New construction terms at a glance

Loan amount: $50,000 minimum, up to $2,000,000
Leverage: Up to 85% loan-to-cost and up to 75% of after-repair value (LTARV), whichever is lower
Recourse: Non-recourse available, with standard carve-outs
Experience: All experience levels; first-time builders considered
Credit and income: No minimum FICO. No tax returns and no debt-to-income ratio
Valuation: No appraisal required. In-house valuation or broker price opinion (BPO)
Lot: Shovel-ready lots only, with approvals in hand. No raw land
Utilities: The lot must have access to water, sewer and electricity
Term: 12–18 months, interest-only
Construction funds: Released in draws against a budget and draw schedule agreed at closing
Property types: Single-family homes, townhomes, tear-down rebuilds and small multifamily
Borrowers: Individuals, LLCs and corporations on non-owner-occupied investment property

All terms and leverage are subject to underwriting, subject to change and to borrower qualification. Business-purpose loans on non-owner-occupied property only. This is not a commitment to lend.

Local Know-How

Where DC-area builders are building

Infill and tear-down work looks different in each jurisdiction, so we underwrite permits, utilities and comparable sales block by block.

Northern Virginia infill and tear-downs

Close-in Arlington County, Alexandria, Falls Church and Fairfax neighborhoods see older homes replaced with new builds, while Loudoun, Prince William, Stafford, Fauquier and Frederick counties offer approved lots for new homes. Virginia hard money loans

Washington, DC infill

DC infill lots and tear-downs run through the Department of Buildings, and historic districts add design review. Bring the approvals and we will size the build. Hard money loans in DC

Maryland suburbs

In Prince George's, Montgomery, Charles, Anne Arundel and Baltimore counties, each county runs its own permitting office. We look at the approvals, the utilities at the lot and new-build sales nearby. Maryland hard money loans

Speed when it counts

With in-house valuations instead of appraisals and our own capital behind every loan, written approvals come within 24 hours. Renovating instead of building? See our fix & flip loans.

New Construction Checklist

What we look at on a ground-up build

Send us these six things

Land: owned outright, financed, or under contract (and the price)
Approvals: proof that the lot is shovel-ready
Utilities: water, sewer and electricity access at the lot
Plans and the construction budget, line by line if you have it
Build timeline and the expected completed value
Your general contractor and any projects you have completed

Not a fit

Raw or unentitled land
Lots without water, sewer or electricity access
Owner-occupied homes
Projects outside our lending area (others considered case-by-case)

FAQ

New construction loan questions

Do you finance ground-up new construction?

Yes. We fund infill single-family homes, townhomes, tear-down rebuilds and small multifamily builds from $50,000 to $2M on shovel-ready lots in our lending area, subject to underwriting.

How much can I borrow on a construction loan?

Up to 85% of total cost (loan-to-cost) and up to 75% of the after-repair value (LTARV), whichever is lower, subject to underwriting. The minimum loan is $50,000.

Is the construction loan non-recourse?

Non-recourse is available, with standard carve-outs. Whether a loan is structured that way is set during underwriting.

Do I need construction experience?

No. All experience levels are considered, including first-time builders. Tell us about your general contractor and team, because they are part of how we look at the project.

Do you lend on raw land?

No. We lend on shovel-ready lots only, meaning the approvals are in hand. The lot must have access to water, sewer and electricity. We do not finance raw or unentitled land.

Is there a minimum credit score or an appraisal?

There is no minimum FICO, and no appraisal is required. We value the project in-house or with a broker price opinion. We still review credit, and every loan is subject to approval.

How do construction draws work?

Construction funds are held back and released in draws as work is completed and verified, against a budget and draw schedule agreed at closing.

Which areas do you cover for new construction loans?

We lend in Washington DC; Prince George's, Montgomery, Charles, Anne Arundel and Baltimore counties in Maryland; and the City of Alexandria, Arlington County, the City of Fairfax, Fairfax County, the City of Falls Church, Fauquier County, Frederick County, the City of Fredericksburg, Loudoun County, the City of Manassas, the City of Manassas Park, Prince William County and Stafford County in Virginia. Other areas are considered case-by-case.

Have a shovel-ready lot in DC, MD or VA?

One page, about three minutes. Written terms within 24 hours.

Apply for New Construction (202) 595-5472