Bank of America Construction Financing Loans

Bank of America Construction Financing Loans

We provide stand alone construction financing or one-stop shopping for construction and permanent financing through a variety of term debt options.

Who it's for

Developers of single-family subdivisions or multifamily rentals affordable to those who earn 80% or less of the area median income.

Features

Amount. No predetermined minimum or maximum

Term. Generally 18-24 months

Loan-to-value. Maximum 80%, including value of tax credits

Pricing. Rates are based on the transaction/local market conditions and are very competitive

Fees. Loan fees are competitively priced; standard items include appraisal, construction cost analysis, inspections, and legal fees

Supports. First Deed of Trust and/or assignment of partnership interest

Other terms. Generally requires 15% equity up front

Credit is subject to approval. Normal credit standards apply. Programs, rates, terms and conditions are subject to change without notice.