Construction and renovation loan


Use our Ground Up Construction loan product to fund your next spec home.  Designed for experienced home builders building 2-200 homes per year, this loan allows you to use higher leverage than banks traditionally offer, while closing quickly.

Use our fast, dependable, proven capital at competitive rates to make your next project profitable. Our draw process is simple and straightforward to allow you to keep your project on track.

  • Investment Properties Only
  • Close in 7-10 Days
  • We Pay Brokers
  • Higher Leverage with More Experience
  • Lending in 47 States
  • Lending Since 2006

Program Terms

Rates and Terms vary depending on several factors including borrower experience, credit and project size. Get started today to see your loan terms.
$200,000 to $2,500,000
11.99% – 13.99%
Monthly, Interest Only, No Prepay Penalty
Up to 65%
Loan to Cost (LTC)
Up to 85%
Up to 70%
12, 18 or 24 Months
Infill Construction in Urban/ Suburban Areas
Must Have GC if <3 Builds last 36 Months
Purchase+Construction, Refinance+Construction, Construction Only

Loan Details

Property Types
Closing Costs
Additional Requirements

Park Place Finance specializes in residential real estate and can fund various properties including:

  • Single Family Homes
  • Duplex, Triplex, Quadplex
  • Multi-Family (5+ Units)
  • Condominiums
  • Townhouses

Park Place Finance eliminates junk fees and has straight-forward pricing when it comes to fees associated with closing your loan.

  • Document Preparation Fee – $1,295.00
  • Legal Fee/Recording – $535.00
  • Appraisal: TBD
  • Title Commitment: TBD

To close a Ground Up Construction Loan at Park Place, there are a few basic items that you will need to submit to our team. Below is a general list of some of the requirements. Once you apply, you will receive a document portal for easy upload!

  • Loan Application
  • Purchase Contract (If Purchase)
  • REO Schedule (Experience)
  • Property Insurance
  • Identification and Borrower Entity Docs
  • Construction Budget
  • Appraisal
  • Building Plans
  • Permits (if applicable)

Discover the Park Place Advantage

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Close Fast (Typically 7-10 Business Days)

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Competitive Rates (Rates from 11.99%)

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Nationally Trusted (Over 1 Billion Funded!)

Trusted by thousands of Real Estate Investors

We’ve closed over 4,000 loans and have funded over $1 Billion since 2006. We know how to help make sure your next project is profitable with our combined 50+ years of lending experience among our executive team. Call us today to help make your next investment property a success!

Construction Loan Resources

Frequently Asked Questions

Why choose Park Place Finance for my next Construction Project?

Our clients choose Park Place for new construction projects for the ease and speed of closing, higher leverage, our 17+ years of experience and the simplicity of our draw process.

What types of projects do you fund?

Construction loans can be used for ground up, new construction or to renovate a mid-construction project. They are for 1-4 family projects under $2.5 million and multifamily projects under $10 million.

Can you help with a construction loan for my primary residence?

No. We can only finance projects that are for builders. However, our Ground Up Construction Loan is designed for small to mid size builders who may be building a property for your primary residence. Your builder must own the lot or purchase the lot for us to finance on it.

What is your max Loan to Land Cost (AILTV)?

We can finance up to 65% of the dirt costs, and 100% of the construction costs.

Do you finance just land?

We can only finance the dirt / land costs when adding in construction into the loan. We must have plans and permits to finance the land, and we have to include the ground up construction costs into our loan.

Do I have to have plans and permits prior to closing on the land?

Yes, in order for us to finance your land costs, you must have the permits and plans prior to closing. If you already own the land, we can finance the ground up construction costs once you have the plans and permits.

Do you finance soft costs?

Yes! We can finance up to 5% of total project costs as soft costs reimbursements.

What happens if my project gets delayed before the loan matures?

Generally we are very accommodating on extensions, so long as payments are on time, and the project is moving along.

Can you help if I have Zero New Construction Experience?

Yes! We can still help, although we will require a contract with a licensed general contractor/ builder. Once you complete one or two of these, then we can help finance you without a GC.

I’ve flipped 5 houses, but never done new construction. Can you help?

Yes! Depending on the extent of your flipping experience, we may not even require a licensed GC to help.

Can you finance rural properties?

Unfortunately we only finance new construction on urban and suburban infill lots at this time.

How do Draw Reimbursements work?

New Construction Draws are done on a reimbursement basis based on improvements to the project. The reimbursement is based on the costs you provide, so no receipts are needed. To request a draw, simply go onto the top right corner of our website homepage, and click draw request. From there, an inspector will go out to inspect the project, and you should receive your funds within 3-5 business days. You can speed the process up by scheduling a draw in advance of the day you need it, so the inspector goes out the day the work is being done. Our in-house draw team is also available to assist anytime you need help or have questions.

Do you Work with Brokers?

Yes, We love and protect our brokers! To get started, just apply on our website above or give us a call.

What Customers Are Saying

Joseph Morley was extremely helpful and was able to get our deal closed within just 2 days. We would definitely recommend him for any home financing. It was a total pleasure to work with him.

The definition and emphasis of dedication, devotion, and diligence was redefined to a whole new level (unimaginably speaking); through out the entire loan process working with Park Place Finance. Look no further, if you need to close quickly, and demand superlative stellar customer service. My loan officer was able to help me close the loan within 11 days! Highly recommend you call them; if you prefer this route (hard-money, direct private lending).

Connor Donovan was very helpful with my loan from start to finish. I gave him everything he asked for right away and from there on out, he didn’t ask for much! I closed on time with no headaches and a lot less fees! Thanks Connor! Let’s do it again!

Great working with Park Place they made everything go smoothly for my transaction. Highly recommended!

Adam Brinker was the absolute best! I went into this situation, nervous and uninformed. He was there every step of the way, helping me to understand that specifics of every single detail. The deal closed on time and he still follows up. Could not recommend Park Place and Adam any more. Thanks!

Moune Prasasouk and his team are fantastic! Their communication, customer service and their attention to detail is why I will always do business with Park Place Finance.

Had a wonderful experience working with Zane Kampfer. Really appreciate how he made himself available and worked with me to get this deal done. Looking forward to many many more together.

Park Place Finance has great customer service and went go out of their way to make our first project together a homerun!

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