New Projects
Flexible Financing for
New Construction Projects
Quick, adaptable funding for new builds and developments.
Whether you’re building your dream home or developing your next investment property, New Century Lending delivers the short- and long-term financing you need to bring it to life.
Construction
What is a
New Construction Loan?
A new construction loan is short-term financing designed to cover the costs of building or developing a property from the ground up.
Instead of one lump-sum payment, funds are released in stages or “draws” as your project progresses — keeping your build funded and on schedule.
At New Century Lending, we specialize in flexible, investor-friendly construction loans that can easily transition into permanent financing once your project is complete.
Use a Construction Loan To:
-
- Build a primary or secondary residence
- Develop new investment properties
- Finance multi-unit or mixed-use projects
- Fund land acquisition and vertical construction
Quick Benefits
- Flexible Draw Schedules
- One-Time Close Options
- Competitive Interest Rates
- Build Equity from Day One
- Tailored for Builders and Investors
- Personalized Guidance
Frequently Asked Questions
How long are construction loan terms?
Most construction loans run between 6 and 18 months, depending on your project timeline and size.
Do I need to own the land first?
You can finance land acquisition and construction together — or use land you already own as part of your down payment.
How are funds disbursed?
Funds are released in draws, based on the progress of construction. Each draw is verified to keep your project on schedule.
Can I lock in a permanent loan after construction?
Yes — New Century Lending offers construction-to-permanent options so you can transition smoothly to a long-term mortgage once your build is complete.
What’s the minimum down payment?
Typically 10–20% down, depending on your credit, project type, and overall budget.
Can investors use construction loans?
Absolutely. We finance spec homes, rental builds, and multi-unit developments designed for long-term investment growth.
Loan Programs
DSCR Loans
Qualify on the property's cash flow, not your tax returns. No personal income documentation. Up to 80% LTV. 30-year fixed, ARM, and interest-only options. Vesting in LLC, LP, or personal name accepted. Rates from 6.25%.
Bridge Loans (Fix & Flip)
Fast, short-term financing for fix-and-flip projects. Close in 5 days. Up to 100% of rehab costs financed. 4-day draw processing.
Portfolio Loans
Consolidate five or more rental properties into a single loan. One payment, one closing, one set of conditions. Lower rates and origination fees than financing each property separately.
Hard Money / Asset Based
Loan decisions made on the property, not the credit report. Pure asset-based underwriting with rapid close. For time-sensitive acquisitions and complex situations. Rates from 8.5%.
Commercial Real Estate
Multifamily 5+, mixed-use, office, retail, and industrial. Acquisition, refinance, and value-add financing. Bridge-to-perm structures available. Loan amounts from $250,000 to $25,000,000+.