New construction loans
GPS Capital finances ground-up construction on investment property - evaluated on the project and the deal, not your credit history. Loans from $500K to $20M from a direct private lender, in business since 2003. Send the lot or property address, the plans and the budget, and we will tell you within 2 hours whether the structure works.
New construction loan terms
Rates 9.99% to 12.99%, 1 to 2 points, loans from $500K to $20M, up to 70% of after-repair value, typically 12-month terms. No minimum credit score. Closes as fast as one week - well-documented deals have funded in 3 to 5 business days.
Construction deals are underwritten on the lot value, the construction budget and the completed value, with draws structured around the build.
How construction underwriting works
Three numbers drive a construction loan: what the land is worth, what the build costs and what the finished property is worth. We review the plans, the budget and the builder's track record, then structure the loan around realistic draws. In-house underwriting means one team from land closing to final draw - no committee, no correspondent lender in the middle.
Land deals
Buying the lot is part of the deal, and we finance land purchases too - GPS Capital closed a $1,250,000 land purchase in Colts Neck, NJ in three days with no appraisal. If the land is already under contract, send it with the construction budget and we will look at the whole project at once.
FAQ
New construction FAQ
Can I get a hard money loan for ground-up construction?
Yes. GPS Capital finances ground-up construction on investment property from $500K to $20M, underwritten on the land, the budget and the completed value - not your credit history.
Do you finance the land purchase too?
Yes. Land purchases are a proven product - GPS Capital closed a $1.25M land purchase in Colts Neck, NJ in three days with no appraisal.
What are new construction loan rates?
GPS Capital's rates run 9.99% to 12.99% with 1 to 2 points, typically on 12-month terms, priced on the project, the leverage and the exit.
How do construction draws work?
The renovation or build budget is structured into the loan with draws released against completed work. We walk you through the draw schedule in the term sheet before you commit.
What credit score do I need for a construction loan?
None. There is no minimum credit score and no income verification in most cases - we underwrite the project and the deal.
Do you finance spec homes?
Yes. Speculative construction on investment property - build to sell - is a core use of our construction financing.
Have a deal? Get a response within 2 hours.
No obligation. If we can’t fund it, we’ll tell you straight.
Or call us now: 718-247-8863 Deals@gpscapllc.com