Investor Financing
Ground Up Construction Loans For Builders of Every Experience Level
Our Ground-Up Construction Loan program is for builders seeking dependable capital and flexible financing options for new development projects. With competitive loan terms and financing up to 100% of construction costs, we help provide the resources needed to move your project from concept to completion.
10–21
Day Close
90%
Max LTC
$200K+
Loan Amount
620+
Min Credit
Construction Loan Quick Terms
Experience RequiredFirst-Time Builders OK
Min. Credit Score620
Down Payment10–20% Typical
Max LTCUp to 90%
Max LTARVUp to 75%
Loan Amount$200K – $10M+
Interest Rate8–12%
Loan Term12–24 Months
Closing Timeline10–21 Days
Appraisal WaiverUnder $650K
Apply Now →
Why Builders Choose Us
Features of IGR Ground Up Construction Loans
Whether your strategy is to sell upon completion or hold for long-term cash flow, our straightforward loan process minimizes delays and keeps your project moving forward. We focus on funding solutions so you can focus on building.
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Streamlined Approvals
Asset-based underwriting with limited documentation so builders can concentrate on their business and not paperwork.
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Fast Closings (10–21 Days)
Move fast on land acquisitions. We have programs that waive appraisals if the loan amount is under $650K.
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1–100 Unit Properties
Finance single-family builds, townhomes, small multifamily, and apartment construction up to 100 units.
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Easy Draw Schedules
Draws processed within 24–48 hours so your sub-contractors get paid on time and your project stays on schedule.
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Flexible Funding
Obtain 100% of construction costs if the lot is mostly paid for. We evaluate the deal, not just the borrower.
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Portfolio Growth Friendly
No limit on how many projects you're building simultaneously. Common-sense underwriting for growing builders.
Do You Qualify?
Ground Up Construction Loan Guidelines
Our ground up construction loans are for builders of every experience level. Best pricing and leverage are for builders with 3+ closed projects in the past three years.
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Experience
Best terms for builders with 3+ completed ground up projects in the past 3 years. First-time builders can be considered with strong mitigating factors.
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Credit Score
Best rates and terms for credit scores of 720+. Reduced leverage and higher pricing for scores down to 620. Exceptions made case-by-case.
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Down Payment / Equity
Typically 10–20% down depending on project type, location, and borrower experience.
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Property Type
Single-family residences (SFR), condos, townhomes, and 1–100 unit residential properties. Commercial and mixed-use also considered.
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Loan-to-Cost (LTC)
Financing available for up to 90% of total project costs. Funding up to 100% of construction cost if the lot is mostly paid for.
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Occupancy
Non-owner-occupied investment properties only. Not available for primary residences.
Not sure if you qualify? Send us your loan scenario and we'll review it for free.
Loan Parameters
Ground Up Construction Loan Program Details
Transparent program guidelines for builders and developers in the Pacific Northwest and Nationwide. Call 503-504-2660 to discuss your scenario.
Loan Feature
Details
| Product Type | Ground Up Construction |
| First-Time Builders | Considered (with mitigating factors) |
| Min. Credit Score | 620 (best terms at 720+) |
| Down Payment | 10–20% Typical |
| Max LTC | Up to 90% |
| Max LTARV | Up to 75% |
| Interest Rate | 8–12% (Non-Dutch) |
| Loan Term | 12–24 Months |
| Payment Type | Interest Only |
| Draw Schedule | 24–48 Hour Processing |
| Appraisal Waiver | Available on Loans Under $650K |
| Prepayment Penalty | None |
| Closing Timeline | 10–21 Days |
| Min. Loan Amount | $200,000 |
| Max. Loan Amount | $10M+ |
| Eligible Properties | SFR, Condo, Townhome, 1–100 Units |
| Commercial | Reviewed Case-by-Case |
| Geography | Pacific Northwest | National |
Construction Loan Calculator
Estimate your financed loan amount instantly.
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$
$
50%90%
50%80%
Financed Loan Amount
$467,500
LTC governs
Total Project Cost
$550,000
LTC Loan Amount LTC
$467,500
LTARV Amount LTARV
$562,500
Est. Down Payment
$82,500
Get Your Custom Quote →
Estimation only. Not a loan commitment. Loan amount is the lesser of LTC or LTARV. Contact IGR for an accurate quote.
Our Process
How Our Ground Up Construction Loans Work
Getting funded for a ground up construction project shouldn't be complicated. Here's what to expect when you work with IGR Mortgage Services:
1
Submit Your Loan Scenario
Share basic details — property address, land cost, construction budget, ARV estimate, and your exit strategy. We review quickly and give you a straight answer.
2
Term Sheet & Approval
Once we've reviewed your project, we'll issue a term sheet outlining your rate, LTC, draw schedule, and closing timeline. No surprises.
3
Draw Schedule Set Up
We establish a draw schedule aligned with your construction phases — foundation, framing, MEP rough-in, drywall, finish, and final inspection.
4
Close & Build
After closing, funds are released per the draw schedule. Draws are processed within 24–48 hours so your contractors keep moving.
Eligible Properties
IGR Mortgage Provides Construction Loans on These Project Types
We offer construction financing on a wide range of new projects throughout the Pacific Northwest and Nationwide.
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Single Family
Spec homes and custom SFR new construction
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Multifamily 2–100
Duplexes, triplexes, quads, and small apartment buildings
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Condos & Townhomes
New construction attached and detached townhomes
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Tear Down / Rebuild
Demo existing structure and build new from the ground up
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Rural Properties
Non-urban new construction on residential land
Common Questions
Ground Up Construction Loan FAQ's
Everything our builders and developers ask about ground up construction loans.
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A ground up construction loan is short-term financing used to fund the cost of building a new structure from scratch — including land acquisition and all construction costs. Unlike a traditional mortgage, funds are released in draws as construction milestones are completed, rather than in a single lump sum at closing.
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A fix and flip loan funds the purchase and renovation of an existing structure. A ground up construction loan funds the building of an entirely new structure, which involves more phases, a longer timeline, and a draw schedule tied to construction progress.
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LTC is the ratio of your loan amount to the total cost of the project, including land and construction. If your total project cost is $500,000 and we offer 90% LTC, your loan would be $450,000 — and you'd need to bring $50,000 as equity or a down payment.
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LTARV (Loan-to-After-Repair Value) compares your loan amount to the finished, completed market value of the property. We use 75% LTARV as a ceiling to ensure the project has sufficient equity at completion. Your actual loan amount will be the lesser of the LTC amount or the LTARV amount — whichever is lower governs.
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Not necessarily. IGR can structure loans that include both land acquisition and construction costs in a single package. If you already own the land outright or have significant equity in it, that may reduce your down payment requirement or allow up to 100% of construction costs to be financed.
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Draws are released based on verified construction milestones. You'll submit a draw request, and we process it within 24–48 hours. This keeps your project moving without unnecessary delays.
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Most borrowers either sell the completed property or refinance into long-term conventional or DSCR financing. Before we close, we'll discuss your exit strategy to make sure the timeline and loan structure align with your plan.
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Not always. We have programs that waive the appraisal requirement for loan amounts under $650,000, which can save time and money on smaller projects. Call us to find out if your project qualifies.
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Lenders require the builder has sufficient liquid reserves after the loan closes to handle unexpected construction costs not included in the budget. A general rule of thumb is 10% of the loan amount.
Ready to Fund Your Next Construction Project?
IGR Mortgage Services has been providing real estate loans to investors in the Pacific Northwest for over 30 years. Let's talk about your ground up construction loan today — fast approvals, flexible terms, competitive rates.
Loans for investment purposes only. Not available for owner-occupied primary residences.
IGR Mortgage Services | Portland, Oregon