New Construction Loans

Funding for real estate investors and developers to purchase a tear-down or shovel-ready lot and build a new construction property.

New Construction Loans

Funding for real estate investors and developers to purchase a tear-down or shovel-ready lot and build a new construction property.

New Construction Loans For Investors and Developers:


  • Land must already have a street, sewer, and utilities access
  • Financing up to 75% of the total project cost
  • Projects up to $10 Million
  • Close in days, not weeks
  • No prepayment penalties
  • Free, no-obligation loan underwritings

It all starts with a free, no-obligation consultation with your loan officer!

Max Loan Amount

LTC: up to 75%

Points at Closing

As Low as 2% Points
($3,000 Minimum)

Loan Terms

Term: 12 months
Prepayment Penalties: Never

New Construction Loans with WCP:

Looking for a hard money lender that has a real understanding of new construction projects and can structure loans around your needs? We’re here to partner with investors and developers like yourself to make securing project funding easier and to treat you like a valued business partner.

By partnering with us you’ll get funding toward both the purchase and construction costs of your new construction project. This means you can get up to 75% of the total project costs financed.

Real value doesn’t end at cost savings – your dedicated lending expert will serve as a second set of eyes when you are analyzing deals and be there to answer your questions from loan underwriting to closing. Post-closing, our in-house loan servicing and construction draw management teams will guide you through payments and ensure all of your draws are sent in a timely manner, keeping your project on schedule. From start to finish, our team is here to show you outstanding service and earn your repeat business.

In a competitive real estate landscape, you need a lender that can close fast so that you can lock up properties while others are still waiting on a phone call back from their bank. With a streamlined underwriting and document collection process, you can get a Proof of Funds letter ASAP and stop losing out on great deals. Our speed gives means you don’t have to miss out on great opportunities anymore.

So if you’re looking for a lender that delivers on savings, service, and speed – let’s connect for a free, no-obligation phone consultation to get started. Even if you don’t have a deal that you’re looking at, our lending experts can even help you source your next deal. Just fill out the quick form below so we can get to work for you!

Get Your Free, No-Obligation Loan Quote Today!

Questions About New Construction Loans:

What is a New Construction Loan?

It’s a short-term financing solution from a hard money lender that allows investors to build a new structure on either shovel-ready land or a tear-down property.

What is the difference between this and a Fix and Flip Loan?

New Construction Loans are specifically designed for borrowers to build from the ground up, whereas Fix and Flip Loans are intended to renovate distressed properties. The key difference is in the type of property being purchase. Existing structures that are to be torn down and empty lots that already have street access, a sewage system, and utlities access qaulify for a New Construction Loan. Existing structures that are to be kept but will undergo significant renovations are eligible for a Fix and Flip Loan.

Do you need cash in hand for one?

In order to secure a New Construction Loan, the borrower will need to provide at least 25% of the total project costs (LTC). Without the borrower puttign “skin in the game,” lenders would not be able to offer reasonable rates to account for the amount of risk involved in the project.

How long until you have to pay it back?

These are normally shortterm loans, meaning up to 12 months. Often times new construction projects can take more than a year, so loan extensions or longer loan terms can be determined and added to the terms of the loan.

Can these loans be used to build on raw land?

No, raw land is not a qualifying property type for a New Construction Loan. To qualify, the lot must already have street access, a sewage system available, and utilities access. If an investor or developer uses another lender to finance the development of the land, they can refinance the project into a New Construction Loan once the utilities are in place and the lot becomes eligible.

Are there any prepayment penalties?

There are no prepayment penalties or fees associated with these loans. This means if you finish your project before the end of the loan term you will not be charged a fee and will simply save money by paying less in interest payments.