Individual project details will determine our LTV, LTC, origination fee, and interest rate. A general starting point is 3% Origination and 12% Interest, 70% LTV, and 90% LTC.

Credit history is a component of our assessment, and we allow our borrowers to provide their own credit report from any bureau. However, we primarily concentrate on the viability and profitability of the construction project.

Experience is a valued factor, yet we evaluate each application on a spectrum of criteria

New construction loans typically take about 1 week to close.

Once the work outlined in your draw schedule is complete, you can easily submit a draw request through SiteWire, our intuitive app designed for seamless project management and funding requests. SiteWire simplifies the process, allowing you to identify each completed item for which you’re requesting payment directly within the app. After your request is submitted, an on-site property inspection will be scheduled. During the inspection, a professional will verify the accuracy of your request and ensure the completed work aligns with the draw payment amount. With SiteWire, managing your construction funding has never been more efficient or straightforward.

Funds will hit your account typically within 2 business days.

If the inspector notes any issues with the draw request, such as work not fully completed or work not completed in a satisfactory manner, the amount of the draw request will be reduced to match the amount of work actually complete. In such event, the uncompleted work may be included in a future draw request upon completion.

As the property owner, cost increases (whether due to overruns or changes in the scope of work) are solely your responsibility. Acadia Capital is responsible for disbursing only the amounts budgeted for each item in the Draw Schedule. If specific items end up costing more, you are responsible for any difference between the actual and budgeted costs.

Construction draws are paid directly to the borrower

If construction or rehab funds are still available after the project has been fully completed, those funds will be disbursed to you, provided that the loan is not in default.

New construction loans require a licensed contractor. For Fix and Flip loans it will depend on the scope of work. If the renovations are minor, no building permits are needed, and you have documented experience with prior projects, the use of a licensed general contractor may not be required.