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Development Lending. We are pleased to offer financing for development of commercial land or residential lots. The experience of our real estate lending team will guide you through the process with ease. features: revolving lines of credit or traditional short-term loans; Financing available for the following property types: Single family.
Development finance is used by property developers to build, convert or renovate a property or development of any size. We can negotiate and deliver an excellent deal for you to cover the costs of the purchase (or refinance) of the site or property, in addition, to build costs. We offer short-term funding and quick and easy development finance.
Residential builder lines of credit and "stand-alone" loans. Land acquisition and development (A&D) loans and lines of credit. Revolving facilities. Master-note structures. Performance and financial letters of credit. For more information on residential development and home building lending, contact Jeff Raihall at 804.419.8904.
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Whether it’s new residential construction or for professional developers who need to develop land for the construction of apartments, townhomes, duplexes or houses, our lenders understand the business and financing challenges you face.
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The minimum loan amount is $2 million. This is a far cry from a general mortgage for a residential property. Your Approach to the Loan Process. Above all else, you need to focus on the finer details of the project you are working on. This includes but is not limited to: type of property and/or development; necessary funds; and a basic timeline.
Bridging finance or development finance. The next type of funding within property is bridging or development finance. This can mean any short-term funding that helps pay for building and development costs. These two terms have significant overlap, and might seem interchangeable, but there are differences between the two.
Office buildings and condo complexes. No matter what your company is looking to develop, Berkshire Bank has a commercial real estate loan that can get the ball rolling. Our commercial lenders are ready to work with you to find the best loan terms for your business. Financing for operating facilities; Loans for residential and commercial income.