WE’RE WITH YOU START TO FINISH!
Our specialty is construction lending. Construction loans can be combined with a mini-perm loan through stabilization. We work with all sources of funding (Historic, LIHTC Equity, State and Federal) recognizing each project is unique. We provide creative solutions that work.
Construction Loan Features
Loan Amount: $500,000 to $20,000,000
Term/Amortization: 12 to 48 months / based on the project
Interest Rate: Based on Wall Street Journal Prime Index
Closing Time Frame: In as little as 2 weeks after receiving complete application and documentation. The appraisal, ALTA survey, and title insurance determine the number of days needed to close. We are staffed to meet your closing timeframe.
Mini-Perm Features
Loan Amount: $500,000 to $10,000,000
Term/Amortization: 12 to 24 months / tailored to the needs of the project
Interest Rate: Spread over Wall Street Journal Prime Index
Closing Time Frame: In as little as 2 weeks. We are staffed to meet your closing timeframe. Typically an appraisal, ALTA survey, and title insurance determine the number of days needed to close.
We would love to work with you. When you’re ready contact us or click here for an information checklist so we can get started.
Our Customer’s Tell The Story!
“Our relationship with Stearns began several years ago. They have provided construction financing for many of our apartment complexes to date. They are reliable and efficient and that is definitely a plus in the development and construction industry. We will continue to use Stearns for our construction financing needs because they truly do “get the job done”.
- Arby Smith & Keith Richardson
RichSmith Development, LLC - North Little Rock, AR
