Ground Up Construction

Ground-up construction refers to erecting a new structure on an empty lot. You’re starting from the ground up. If you are looking to create a new build from scratch, 3Cord offers the following to get you started. 

Our loans are available nationwide. No tax returns or income verification are needed to begin the process.  The origination process will vary depending on the type of loan required. 

We offer loan amounts starting at $150,000 over 12 to 24 months with interest rates from 4.99% to 7.99%+, and you only pay the interest on the funds drawn. Funding will be received in 3 to 6 weeks.

Finance up to 90% LTC (hard + soft costs) to 75% ARV (may include most loan costs).

The dollar amount the borrower has invested into the project will reduce the cash required to close the account. There are no monthly payments as the interest reserve is built into the loan.  

Limited recourse is available with standard carve-outs and completion guarantees. If the loan is in default and the property is to be sold, 3Cord will be in the first lien position. 

Foreign nationals are welcome to apply for loans for projects in the USA, with no upfront fees. 

The criteria for this loan are: 

• 620+ credit score
• Borrowers must have experience in title building/rehabbing similar projects in the last 3 years 
• Use an approved general contractor
• Borrower liquidity must be 5% of the loan amount plus cash to close