Realize Your Vision with Our New Construction Mortgage

Unveiling our New Construction Mortgage Product, a tailored financing solution for individuals, trusts, corporations, and LLCs. With loan amounts ranging from $150,000 to $800,000, this product is apt for a wide variety of property types—Condos, Townhomes, Multi-Family 1-4 units, Single Family homes, and Commercial assets.

Offering an array of lending terms such as 5-Year ARM, 7-Year ARM, 10-Year ARM, 30-Year Fixed, 40-Year Fixed, and Interest-Only options, this product is designed to adapt to your unique investment objectives. Leverage this mortgage offering to invest in new construction projects and broaden your real estate portfolio.

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Who Is A New Construction Product For?

  • Developers: Those who build to sell or lease.
  • Homebuilders: Contractors seeking financing for construction.
  • Investors: Ownership Entities: Whether an individual, trust, corporation, or limited partnership, we offer financial solutions to fit your structure.

How It Benefits You

  • Liquidity: Enjoy the financial freedom to manage construction costs efficiently.
  • Tailored Financing: Get a mortgage that aligns with your construction timeline.
  • Investment Leverage: Maximize the ROI on your construction projects.

Specific Requirements

  • Detailed project plans and estimated construction budget.
  • Strong credit standing.
  • Pre-qualification for the types of property we fund.

New Construction Property Types Funded

  • Single Family Residences: Detached homes intended for one family.
  • Condominiums: Individual units in a larger complex, often in cities.
  • Townhomes: Multi-level homes connected in a row, common in suburban areas.
  • Multi-Family Properties (1-4 units): Buildings housing multiple families, offering potential for rental income.
  • Commercial Properties: Spaces used for business activities, such as offices, retail, or industrial facilities.
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Loan Amount Parameters

  • Minimum Loan Amount: $150,000, for smaller projects or phase-wise funding.
  • Maximum Loan Amount: Up to $800,000, designed for large-scale residential construction.
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Loan Terms

  • 5-Year Adjustable-Rate Mortgage (ARM): Lower initial rates, ideal for short-term investment strategies.
  • 7-Year Adjustable-Rate Mortgage (ARM): Moderate initial rates suitable for medium-term financial planning.
  • 10-Year Adjustable-Rate Mortgage (ARM): Extended adjustable rate period for greater financial flexibility.
  • 30-Year Fixed-Rate Mortgage: Long-term stability with a fixed interest rate for the loan's duration.
  • 40-Year Fixed-Rate Mortgage: Extended fixed-rate term for reduced monthly payments.
  • Interest-Only Loans: Pay only the interest initially, offering lower monthly payments for a set period.

New Construction Availability and Eligibility

Inclusive Financing for Diverse Entities

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Individuals

Must have verifiable income and a solid credit history.

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Trusts

Subject to creditworthiness and asset verification.

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Corporations and Limited Partnerships

Requires positive cash-flow statements and debt-service coverage ratios.

With Barrett Financial's New Construction Mortgage, you gain the financial footing necessary to transform your construction visions into lucrative realities. From a diverse range of property types and flexible loan amounts to customizable loan terms and broad eligibility, we are committed to facilitating your success. Start your application process today and build the future you envision.

States We Serve

Barrett Financial is proud to service multiple states across the U.S., offering comprehensive solutions to suit diverse regional needs. Check our map to find out if we service your state.

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