Hard money construction loans are frequently used to finance residential or commercial new construction projects. Typical construction loans run for six months to two years, requires interest-only payments – that are often bundled into the loan itself – and are funded in installments that follow a predetermined schedule of milestones. At Walnut Street Finance, we understand the needs of builders and developers and know timelines don’t often go as planned. Construction loans are repaid when the work is complete and the property is sold or refinanced.
Whether your project requires tearing down and rebuilding a single-family home, demolishing the interior of a building and extensively renovating it, or building a home or commercial space from the ground up, Walnut Street Finance has the flexibility, expertise, and tools to be your hard money lending partner. Unlike a traditional construction loan from a bank, a hard money construction loan from Walnut Street Finance can be tailored quickly and effectively to your project’s specifications.
Construction loans are most often used for new construction projects and their terms are generally the longest of our short-terms hard money loans, allowing you time to finish the project.