Construction Loans
For Income Producing Properties that need to fund fast, special attention to New York Commercial Income Producing Properties. Our product is a 1-3 year commercial bridge-financing, interest only, no prepayment penalty loan. We specialize in nationwide time-sensitive deals that must close within 7-20 days.
American Momentum Group Inc. has a wide array of construction programs to help the developer or builder fund most of his construction projects. Our programs are designed to provide a loan for a Builder constructing a commercial property (Office Buildings, Retail Stores, Shopping Centers, Hotels Warehouse/Flex Space, 5+ Multi-Family units and most other income generating properties).
- Upon completion of the property, the loan may be converted to a permanent loan.
- Loan amounts from $2M to $5 Million
- LTV up to 65%* of the appraised value
*Cross collateralization allowed on other properties, if needed, for maximum (or greater) loan amounts - Land purchase may be included in the construction loan, up to 50% of the lot purchase price
- Owner and Non-Owner Occupied Commercial properties are eligible
- Self- Build/Owner Builder Borrowers are allowed
- Fast pre-qualification, typically between 3 to 5 business days
- Full income documentation and limited income programs
- Loans are available to Borrowers with excellent to less than perfect credit
- Flexible draw schedules
Up to 18-month terms available (longer terms available on an exception
Our new construction program may be used as replacement hospital or construction of a medical office building, can be a necessary strategic option for hospitals seeking to increase revenues, improve operational efficiencies and or to enhance its healing environment.
We can help you finance a new construction project with a variety of funding structures, including rated and nonrated tax-exempt bonds, and debt offering credit enhanced by commercial or agency options, including the FHA-HUD sec. 242 program and USDA loan programs