Construction Loans helping our clients kick off their projects and meet their goals.

Construction Loan Financing at Urban Standard

Have you decided on building your next project rather than purchasing an already stabilized asset? If your answer is yes, you will be surprised to know that in order to build your ground-up or redevelopment project you will not get a conventional mortgage; and even if you do, the loan take several months to close. Instead, it is highly likely that you will need a private construction loan.

Urban Standard Capital is a reliable and well-established construction lender that can help make sure your project is sufficiently funded and running on time. Our experience as developers in NYC help us guide our construction loan borrowers to the path of success and timely repayment.

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Basic Features of Construction Loans

The construction loan is a short term financing tool that is utilized to cover your property’s construction, rehabilitation or expansion. These loans are different from conventional home loans. You might already know that mainstream home loans are approved on the basis of your house’s market value. They are also decided by comparing the condition of your house to other latest sales. On the contrary, construction loans are offered based on your project’s value once its work is fully completed.

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What Are Different Kinds of Construction Loans?

Urban Standard Capital’s construction loans are tailored to meet your needs. However, some of the most common forms are explained below:

  • Construction to Permanent Financing – This funding choice is preferable if you have clear-cut construction timelines and plans in place. Urban Standard Capital can provide you funds upfront while also paying your GC & subs as different sections of the property are completed. At closing, the cost of a loan can be transformed into a mortgage. Certain negotiated benchmarks will determine the quantity and schedule of funds released. Our borrower’s tend to thrive under this type of arrangement as it keeps them on schedule and gives them an extra set of eyes to make sure they’re going in the right direction.
  • Construction to Condominium Sales – In this case, your loan payoff is tied to the sale of developed condos. There is no need to replace our construction loan as the balance will be paid down in conjunction with sales. Please note we also offer condo inventory loans.
  • Renovation to Single Family / Apartment Sale – Similar to our condo sale platform, we also provide similar construction funding on high value single family home and apartments rehab projects. 
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Advantages of Construction Loans

Several distinct upsides of giving preference to constructions loans over other short term financing solutions are listed below:

  • Flexible terms
  • Quick closings
  • Benefit of having an experienced developer as a second set of eyes on your project.
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