Groundfloor is currently closing loans in as fast as 2 weeks. Below are our current lending guidelines:
Rates starting at 7.5%; Points rolled into closing.
1-4 Unit Properties in 32 states
New Construction projects in all states
Loan size: $75,000 - $750,000
Terms: 12 or 18 month loans
Up to 70% LTARV; Up to 90% Loan-to-Cost, depending on experience.
No minimum transaction experience required
5 year look-back for experience
Minimum credit score of 640
Minimum property value $70,000
We will refinance a loan from another lender if the project is complete.