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FSB Commercial Construction Loans are generally structured for terms of six to 15 months with interest paid monthly. All of the costs associated with the construction of a new facility including interest carry can be financed into the loan depending on the loan to value ratio (LTV).
Commercial Buildings LTVs
FSB will loan up to 70% of the appraised value.
Pre-sold and Speculative 1-4 Family Residence LTVs
FSB will loan up to 90% of hard costs excluding profit and supervision, not to exceed 80% of appraisal with a minimum of 10% down.
Below is a list of the information that you will need to provide to apply for a Commercial Construction Loan.
- The last 3 years Personal Tax Returns.
- The last 3 years of Business Tax Returns (if a separate return is filed).
- Annual Financial Statements for the past three fiscal years.
- Personal Financial Statement.
- Construction plans and specifications (if available).
- Cost Estimates (if available).
At FSB, all credit decisions are made locally.
To speak with a loan officer, stop in or call one of our FSB locations.
To save time, online printable applications are available by clicking here.
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