Ground-Up Construction
We buy ground-up construction loans.
New construction up to 10 units, including multifamily and mixed-use, at any stage of the build.
For private lenders financing builders who want to keep funding new projects.
- No minimum
- Bid within 24 hours
- Servicing released or retained
Buy box
Ground-up buy box
| Units | Up to 10, including multifamily and mixed-use (at least 50.01% residential). |
|---|---|
| Loan stage | Before the first draw or partway through the build. |
| Valuation | As-is land value and as-completed value, through an AMC with a local appraiser. |
| Budget | A line-item budget and draw schedule in the file. |
| Leverage, credit and loan size | Set out in our guidelines and matrix, which approved sellers receive. |
How we review
Feasibility is where full-file review earns its keep.
After you accept our bid, our AI underwriting reviews the entire file (the land and as-completed valuation, the construction budget and schedule checked for feasibility, and every loan condition) and our underwriters clear it. That is how diligence clears fast and we close what we commit to.
Fit
What sells well, and what gets kicked out
Sells well
- A line-item budget that matches the plans and the as-completed value
- A realistic schedule with the draw schedule tied to it
- Permits and plans in the file
- A builder with completed projects of similar size
Gets kicked out
- More than 10 units
- Subordinate financing behind the loan
- A budget that can't deliver the as-completed value
- Mixed-use that is less than 50.01% residential
Draws after the sale
Draws after the sale
After purchase, CorrFirst funds the remaining construction draws, so the build keeps moving.
Remaining construction funds
CorrFirst funds the undisbursed balance after purchase.
Draw requests
The borrower or the seller can request a draw.
Inspections
We order a third-party inspection of progress on site. Once it is reviewed and approved, we release the draw to the borrower.
What you hand over
Budget, schedule, draw history, inspection reports, permits and the remaining balance.
What to send
What to send, and when.
Submit a tape (Excel/CSV or your loan system's export) or register loans in the CorrFirst seller portal.
To get a bid: tape fields or portal registration
- Loan ID, property address and property type
- Original and current balance, note rate and maturity
- As-is value, and after-repair value where there is one
- Lien position, occupancy and loan purpose
- Borrower credit score and experience
- Payment status and days delinquent
- Total construction budget, amount drawn and amount remaining
After you accept: the loan file and collateral documents
- Note, mortgage or deed of trust, and any modifications
- Appraisal, through an AMC with a local appraiser
- Title policy or commitment, and evidence of insurance
- Closing statement and loan approval or conditions
- Borrower and entity documents, including any guaranty
- Payment history and current servicer information
- Construction budget, schedule, plans and permits
- Draw history and inspection reports
Submit a tape (Excel/CSV or your loan system's export) or register loans in the CorrFirst seller portal. Approved sellers receive our tape template and collateral file checklist.
Become a SellerCommon questions
Ground-up questions
How many units can the project have?
Do you buy loans partway through the build?
What do you check in the budget?
Loans we buy
Other loans we buy
Fix & Flip / Bridge
Rehab and bridge loans, including partially drawn loans with draws still to fund.
See the buy boxDSCR & Investor
Rental loans qualified on property cash flow, long-term and short-term rentals.
See the buy boxSmall-Balance Commercial
Multifamily to 25 units and mixed-use to 10 units, $300K to $5M.
See the buy boxSpecialty / Hard-to-Place
Rural, acreage, modular, manufactured, bailouts and foreign nationals.
See the buy boxNon-QM
Bank-statement, alt-doc and other non-QM residential loans.
See the buy boxSeasoned & Performing Portfolios
Seasoned books from private lenders ready to recycle capital.
See the buy boxNext step
Have a ground-up loan to sell?
Submit a tape or register loans in the seller portal. Bid within 24 hours.
