Construction Loans
Key Facts About Loan:
- Fact 1: Ideal loan for investors or builders looking to build and sell or lease.
- Fact 2: If the lot/land is owned free and clear, the value may be applied towards any down payment requirement.
- Fact 3: Typical down payment will be between 15%-25% of the total costs, plus closing costs.
Commercial Loans
LOAN PURPOSE
Investment
BORROWER TYPE
Individual or Entity (Single Purpose Entity)
QUALIFICATIONS
1 Property per loan
TERM
Different Options
INTEREST RATE
Call for quote
EXPERIENCE
First time homebuyers
FOREIGN NATIONS ACEPTED
Yes
SEASONING REQUIREMENT (TO USE VALUE VS COST BASIS)
90 Days
PROPERTY TYPE
Non-Owner Occupied:
- Single Family Residences (SFR)
- Condos
- Townhomes
832 301 6541
All other trademarks are the property of their respective owners, not endorsed or affiliated with any government entity. Rates and Terms are subject to change at any time without notice and are subject to state restrictions. Visit the NMLS Consumer Access website for regulatory information about us.
Figure: 7 TAC § 80.200(b) CONSUMER WISHING TO FILE A COMPLAINT AGAINST A COMPANY OR A RESIDENTIAL MORTGAGE LOAN ORIGINATOR SHOULD COMPLETE AND SEND A COMPLAINT FORM TO THE TEXAS DEPARTMENT OF SAVINGS AND MORTGAGE LENDING, 2601 NORTH LAMAR, SUITE 201, AUSTIN, TEXAS 78705. COMPLAINT FORMS AND INSTRUCTIONS MAY BE OBTAINED FROM THE DEPARTMENT WEBSITE AT WWW.SML.TEXAS.GOV. A TOLL-FREE CONSUMER HOTLINE IS AVAILABLE AT 1-877-276-5550. THE DEPARTMENT MAINTAINS A RECOVERY FUND TO MAKE PAYMENTS OF CERTAIN ACTUAL OUT OF POCKET DAMAGES SUSTAINED BY BORROWERS CAUSED BY ACTS OF LICENSED RESIDENTIAL MORTGAGE LOAN ORIGINATORS. A WRITTEN APPLICATION FOR REIMBURSEMENT FROM THE RECOVERY FUND MUST BE FILED WITH AND INVESTIGATED BY THE DEPARTMENT PRIOR TO THE PAYMENT OF A CLAIM. FOR MORE INFORMATION ABOUT THE RECOVERY FUND, PLEASE CONSULT THE DEPARTMENT’S WEBSITE AT WWW.SML.TEXAS.GOV.
PROSPERITY FUNDING, LLC. NMLS: 1868681
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