Closing the Gap: Loans for Luxury SFR Specs in Record Time
Securing financing for a luxury single-family residence (SFR) can be a lengthy process, but our recent closing on a luxury SFR spec construction loan in Longboat Key, FL, shows it doesn’t have to be. Our team successfully funded this loan in just three weeks, demonstrating our ability to move quickly and efficiently for our clients.
Leverage Your Project with the Right Loan
A key component of this deal was the 80% Loan-to-Cost (LTC) leverage. This means the loan covered 80% of the total project cost, including land and all construction expenses. This high leverage is a significant advantage for developers, as it allows them to minimize their personal capital investment and maximize their return on equity. Finding a lender who understands the unique needs of luxury SFR specs and is willing to offer strong leverage is critical for project success.
Why Speed Matters in Luxury Real Estate
The luxury real estate market is dynamic and competitive. The ability to secure loans for luxury SFR specs quickly gives developers a crucial edge, allowing them to capitalize on market opportunities and get their projects started without delay. Our rapid turnaround time on this loan in Longboat Key ensured that our client could begin construction promptly, staying ahead of the curve in a highly sought-after location.
For your financing needs, contact us today at lo***@***********ng.com or 801-845-0092.
About Us:
Nelson Funding is a nationwide commercial loan broker and direct lender helping borrowers get the best possible financing for their respective projects. Nelson Funding has provided financing for over 80 projects and placed more than $600mm of capital. Nelson Funding has the experience to get almost any project funded: from new construction to cash-out refinances, land development, and more. Nelson Funding specializes in construction funding, bridge funding, and conventional term financing products.
Nelson Funding remains committed to helping our clients secure the best financing for their respective commercial real estate projects despite a rising interest rate environment and tightening lending standards. With Nelson Funding’s capital market relationships and highly experienced team we are still placing high leverage debt for all deal types including land development, single family construction, multifamily construction, industrial, office, retail, hospitality, special-use, cannabis and more.
