I Fund Cities, an alternative lending platform, funded a $736,186 senior lien position ground-up construction loan for a single-family home in Washington, Utah, near St. George. The purchase price was $450,000, and we funded 100% of the $416,101 construction budget. The completed value was $1,400,000 so our loan-to-completed value was 53%. In addition to being able to meet with this Client in person, we were able to use his extensive experience to get comfortable with funding his deal at the number he needed. In fact, we funded seven of his new construction builds in Southern Utah. This Borrower not only gained the leverage he needed to make his deal numbers work, but by keeping communication lines open, and connecting him with our draws team pre-funding, we could assure this builder a smooth loan process through closing and beyond. He plans to sell the property upon completion of the construction. The loan term was set at 12 months. This SFR ground-up construction loan was funded in August 2023.
Utah Construction Lenders for Residential Properties
Are you building a residential investment property in Utah? On this page you'll find a list of private construction lenders for ground-up projects throughout Utah's urban areas. The maximum loan-to-completed value (LTCV) for most lenders in Utah is 70%. You typically need to contribute 20%-25% of the project costs and have some cash reserves. Development experience is almost always required. Most lenders will require the project to be fully entitled and shovel ready. A small percentage of lenders will consider land acquisition and/or horizontal financing. The lenders listed here can fund a single home build, or a development with multiple homes. We have a separate page for lenders that offer ground-up construction financing for commercial properties.Displaying 0 Results
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$75,000 - $15,000,000
6 to 360 months
7.00% - 12.00%
1.50% - 4.00%
$75,000 - $7,000,000
12 to 360 months
7.00% - 12.99%
1.00% - 4.00%
$75,000 - $10,000,000
12 to 360 months
8.00% - 13.00%
2.00% - 5.00%
$100,000 - $10,000,000
1 to 12 months
8.00% - 15.00%
1.00% - 3.00%
$500,000 - $5,000,000
6 to 24 months
10.00% - 14.00%
1.00% - 4.00%
$75,000 - $50,000,000
12 to 360 months
1.00% - 2.00%
$10,000 - $700,000
12 to 35 months
7.00% - 10.00%
2.00% - 3.00%
$100,000 - $2,500,000
12 to 23 months
9.99% - 12.99%
1.50% - 3.00%
$75,000 - $2,000,000
6 to 12 months
9.90% - 12.90%
1.50% - 3.00%
Funded Ground-Up Construction Loans in Utah
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