Construction Loans, Walnut Creek, CA

MetroCity Capital Group is arranging responsive, user-friendly construction loans to boutique single-family home builders throughout the West Coast. The construction-loan program is known for quick approvals and closings, coupled with efficient construction draw schedules. This program is designed to provide a business loan to construct a commercial property (Office Buildings, Retail Stores, Shopping Centers, Warehouse/Flex Space, 5+ Multi-Family units and most other income generating properties).

  • Loan amounts from $100,000 to $2,500,000
  • Loan amounts up to 55% of the purchase price
  • Land purchase up to 55% of the purchase price (Cross collateralization allowed on other properties, if needed, for maximum loan amounts)
  • No minimum acreage requirements or maximum limitations
  • Commercially zoned land with entitlements
  • Fast pre-qualification, typically between 3 to 5 business days
  • Deal Directly with Loan Officer/Underwriter
  • Loans are available to Borrowers with excellent to less than perfect credit
  • Up to 3 year terms available
  • Interest only payments based on funds drawn

Documents required for a full application package:
Fully Completed and Signed 1003 (MetroCity Capital Group will Provide)
Tri-merge Credit Report for Borrower(s) (MetroCity Capital Group will Order)
Current month pay stubs if a W2 Employee
2 Years Tax Returns Including all Schedules and W2’s (if applicable)
Asset Verification (2 Months statements for all accounts including checking, savings, 401k, IRA, stocks, other)
Legible copy of a valid drivers license for Borrower(s)
Pro forma Report (Income and Expenses)
Map of Property
Plans and Specs
Construction Cost Breakdown
Signed and Accepted Purchase Contract or Closing Statement for land
Signed and Accepted Building Contract (if applicable)
Copy of Rental Leases
Environmental Questionnaire, if applicable

Other: Lender will order all appraisals. The appraisal fee must be paid in advance.

Rates: 7.95% – 12.95% (Based on Overall Qualifications.)

Needed for Pre-Approval:
1. Completed and Signed 1003
2. Completed and Signed Borrower’s Authorization

For more information Contact and Request Pre-Approval forms:
Vendon McLeod
Commercial Loan Adviser
MetroCity Capital Group
Phone: 925-262-8577 Ext 711
Fax: 925-226-4064
Email: vendonmcleod@metrocitycap.com
Website: www.metrocitycap.net

MetroCity Capital Group is an equal opportunity lender
Licensed by CalBre 01276388
Company NMLS ID # 1181139

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