Loan Programs / Construction
Construction Loans for Ground-Up & Heavy Rehab
Draw-based financing from ground-break through certificate of occupancy — ground-up builds, major renovations, and build-to-rent projects.
Submit a Construction Scenario →This is for you if…
Check all that apply.
Terms & cost
| Loan amount | $500K – $15M |
|---|---|
| Today’s rate range | 8.6% – 11.6% interest-only during the build · updated dailyas of Thu, Jun 25 |
| Max leverage | Up to 80% of project cost (LTC) |
| Term | 12 – 24 months |
| Typical fees | 1–2 points, paid at close — nothing upfront, ever |
| Prepayment | Typically none — refinancing at stabilization is the plan |
How is the rate set?
Pegged to the SOFR benchmark (live via FRED & the New York Fed) plus a spread of 5–8% depending on project type, experience, and leverage. Interest accrues on drawn funds only. When the market moves, this table moves with it.
No lengthy forms, no wasted time — just the information we need to move forward.
What happens after you submit
A complete file moves fastest. For a Construction scenario, we’ll request:
- Architectural plans & permits
- Executed GC contract
- Itemized budget & draw schedule
- Builder resume & prior project list
- Phase I environmental report (if applicable)
Construction loan questions
What does Smply Capital charge?
A broker fee, earned only when your loan closes — depending on the deal it’s paid by you, the lender, or both, and it’s disclosed in a written broker agreement before your file goes to any lender. Nothing upfront, ever: scenario review, consultation, and evaluation are free, and if your deal doesn’t close, you don’t pay us.
How do draws work?
The loan funds in stages tied to your budget. You complete a phase, an inspector verifies it, and the lender releases that draw — typically within days of inspection. You pay interest only on what’s been drawn, not the full commitment.
I’ve never built before — am I out?
Not necessarily. Lenders underwrite the team, not just you. A first-time developer paired with an experienced GC and a realistic budget still places — expect slightly lower leverage and more scrutiny on the numbers.
What happens when construction finishes?
You exit: sell, or refinance into permanent financing once the property stabilizes. Many lenders offer construction-to-perm in one close. We line up the exit conversation early so you’re not scrambling at CO.
Do I need permits before applying?
No — submit your scenario at any stage. Loans fund at or near permit issuance, but the matching, term discussions, and file build can all run while approvals are in motion.
Is a construction loan the right fit?
Still weighing it? The 30-second quiz sorts all 6 programs →
Ready to structure your next deal?
Reviewed by a human broker. Response within 1 business day.
Submit Scenario →