Construction and Land Loans
Bank loans for new construction, commercial,
With construction financing, it’s paramount to identify the right lending fit. We know our way around bank financing and bridge construction loans. Insignia Mortgage enjoys long-standing relationships with local lenders who can make fast decisions that benefit our clients.
- Access to local commercial banks and Wall Street real estate funds.
- 72 hour pre-approval, 30-day close. Rates starting at 4.75250% (4.399% APR).
- Developer financing up to $45 million; loan-to-cost (LTC) up to 75%.
- Residential construction financing for primary and second home up to $15 million.
- Commercial bridge-reposition loans up to $20 million with loan-to-values (LTVs) up to 65%.
- Vacant land loans available up to $10 million.
I have done business with Chris Furie for over 20 years and I look to Chris and Damon to source financing on my most complex transactions that require an out-of-the-box lending solution.
Kurt Rappaport, Westside Estate Agency, Wall Street Journal #4 Ranked Realtor 2013
I want to thank you for your help in getting me my loan. You not only got me a great loan that I’m very happy with, but you stayed on it from beginning to end and made me feel very comfortable through the process. You are the best in the business and I would suggest you to anyone buying a house.
Jay Luchs, Newmark Grubb Knight Frank
For over 14 years, I have used Chris’ services to obtain mortgage loans for many of my high-end clients as well as my own mortgage needs. He consistently provides the best terms and rates available in the market place. I will continue to recommend him to my friends and clients in the future.
Joyce Rey, Executive Director Coldwell Banker Previews International
Chris is highly attuned to the needs of the borrower and tailors his loan recommendations accordingly. No matter how complex the terms may be, I can always count on Chris to deliver my clients the best deal possible, on time and without fail.
Jade Mills, Estates Director Coldwell Banker – Beverly Hills
New 5/5 ARM Program
Insignia Mortgage recently closed on a $11 million spec construction loan in Bel Air, CA with 50% lender loan-to-cost financing.
We located a local bank willing to provide construction financing, despite our client’s limited US income. This non-recourse loan was cross-collateralized against the subject property, as well a two other income-producing homes.
The Loan Details
- $11 million dollar construction loan
- 2-year term
- 7.000% APR
- Interest Only – interest paid only when money drawn
- No prepayment penalty
- 21-day close of escrow