Ground Up Construction Loans for Small Builders in Georgia
Ground up construction loans provide financing for building a property from the foundation through completion. Rockstar Mortgage has supported builders and investors throughout Georgia since 2002 and has been named Best of Gwinnett Mortgage Company for over 13 years, and we have many small to mid-sized builders as clients. We can provide Prime Bank construction facilities – revolving and individual units, development funding, and private capital construction money for investors & builders.
How Construction Loans Work
Construction financing is typically released in stages called draws as work progresses.
| Draw Stage | Construction Phase |
|---|---|
| Draw 1 | Foundation |
| Draw 2 | Framing |
| Draw 3 | Mechanical Systems |
| Draw 4 | Final Completion |
Typical Builder Requirements
- Builder experience: 3+ completed projects preferred for the best terms, but new builders are also considered & eligible
- Construction budget: line-item budget with labor & materials broken out
- Project timeline: 6-24 month loan terms, with the most common one being 12mo.
- Market feasibility: many of the underwriting metrics are based on the ARV/retail value of the property