New Construction Hard Money Loans
New Construction Hard Money Loans in as little as 10 days, Low FICO Minimum, Super FAST Closings.
Paces Funding has new construction hard money loans to fit the needs of any residential construction project. These can be urban infill projects, townhome projects or suburban newer neighborhood projects. Banks today are not typically lending for new construction even though there is purchase demand for this product.
Lending available in Georgia, Florida, North Carolina, South Carolina, Tennessee, Texas & Virginia.
Paces Funding stands out as a true DIRECT new construction hard money lender. As asset-based lenders, we leverage our own funds to finance your new construction loan, providing us with increased flexibility to collaborate with you and tailor the loan to suit your unique circumstances. Contact Paces Funding to learn more details about our new construction hard money loans.
No Obligation. Responses as fast as 24hrs!
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New construction loans for experienced investors up to 70% ARV.
Paces Funding is a DIRECT private lender offering construction loans to real estate investors and developers in Florida Georgia, North Carolina, South Carolina, Tennessee, Texas & Virginia.
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.
New Construction Hard Money Loan Terms
Renovate, rehab and resell your property with a hard money loan.
New Construction Hard Money Loan Terms
Renovate, rehab and resell your property with a hard money loan.
Guidelines
Why get a New Construction Hard Money Loan with Paces Funding ?
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.
Faster Turnaround
Competitive Rates
Asset Based Lender
Less Paperwork
Apply for a Residential Hard Money Loan in a Few Easy Steps
1.
Application & Review
Get started by filling out our easy online loan application. Once we receive and review your completed application, one of our experienced loan officers will call you to discuss any additional information we may need. 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.
2.
Loan 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.
3.
Closing & Funding
At this time we will set up the closing with our preferred attorney and send over the closing instructions and documents along with the wire to fund the transaction. The borrower is required to provide the necessary property insurance prior to closing. That’s it! We make the process simple and fast and you can get funded in as little as 10 days from start to finish!
Don’t take our word for it!
See what other people are saying about working with Residential Hard Money Lender Paces Funding!
So far I have completed 5 deals with Paces. They have been a great asset to my real estate investing journey. There were no hiccups with my funding or any closings
Project took me way longer than expected and they were able to see me through my entire process. I have experienced dealing with another hard money lender and they were real sharks. Thank you Paces Funding for putting me in position to never HAVING to use hard money ever again!
My company utilized Paces funding for 3 separate transactions. Within a two week period. Their team was prompt, attentive and professional. All transactions closed without a hitch. We definitely recommend Paces Funding!
I’ve had a ton of lenders tell me they can perform… then back out 2 days before closing. However, that wasn’t the case here. Lance said he could make it work, and he did. We aren’t willing to work with a lot of hard money lenders, but Paces Funding is a team I’d work with again any day.
We’ve executed 5 different loans with Paces since 2021. They have been a pleasure to work with. Lance in particular is on my speed dial and communicates thoughtfully and proactively to my team and me. We pride ourselves on doing good business throughout the changing market economics and we’ve appreciated Pace’s consistency in working with us.
We Service ResidentialNew ConstructionCommercialHome RemodelCash-out EquityReal Estate InvestorFix-and-Flip Hard Money Loans
Residential Hard Money Loan FAQ’s
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.
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.
No, our loans are usually for a 12 month term or less, but we have arranged financing for more than 12 months in certain situations, particularly commercial projects. We do have permanent lending partners that will be able to assist with your long term needs on single family properties.
We are a private lender with private money. We take risks that banks ordinarily would not and therefore charge a higher rate for the use of our funds. You will find that although the funds may cost more, it is less expensive than having a venture partner to finance your project.
No. We only make loans for commercial, business and investment purposes.
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.
Yes, your credit is important to us, but there is no credit score requirement and it is not the most important factor in financing your project. Your ability to repay a loan as required, your investment in the property, the cost of the property and the value after repairs are also considerations in our decision to lend.
It is certainly possible. We are a private lender, and as such, are not tied to the myriad of regulations that banks must follow. We underwrite and make our own loans based upon our decisions and understanding of the marketplace and your particular property. Usually if the property is worth it, we will give your loan request serious consideration.
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.
It has been incorrectly described as “hard” to find or “hard” to pay, but typically it is a secured real estate loan for investment purposes. The property is often enhanced via renovations that improve the value. The property is then sold or refinanced. The property provides the security in the event of default by the borrower. We are most interested in creating long term relationships helping good borrowers successfully invest in real estate.
