• Interest Rates starting at 12.99% (interest-only payments)
• As low as 3.49% origination (depends on deal and location)
• Appraisal Fee: $500 on average (varies by market and turnaround time needed)
• Loan Documents Starting at: $685
• Loan Admin Fee: $650
• Credit Report Fee: $80 ($120for Joint)
• Flood Certificate Fee: $15
• Monthly Servicing Fee: $15

• A mortgagee’s title policy is required.
• A Builder’s Risk insurance policy is required on all loans for 12 months.
• Up to 70% of the As-Complete Value (excluding points and fees), not to exceed 90% of cost
• 9 month term
• 9 month optional extension (extension fees may apply)

• Minimum Median Credit Score of 600
• Minimum of 25% of project cost in reserves in a Checking, Savings, IRA and/or 401(k) account.
• Land equity may be applied to reserve requirement.
• Must provide details on completion of new construction projects or relevant experience.
• No Recent Bankruptcy or Foreclosures (subject to review by Longhorn)

• First Liens Only
• Single-family, 2-4 unit, townhomes (no condominiums or manufactured homes).
• Our loans are made on the As-Complete Value
• Appraisals must be ordered by Longhorn and performed by a third-party appraiser.
• Properties should be located in or around suburban and/or major metropolitan areas: Dallas, Fort Worth, Houston, Austin, San Antonio, El Paso, St. Louis, Kansas City, Indianapolis, Charlotte, Greensboro/Winston-Salem, Raleigh/Durham, Nashville, Chattanooga, Knoxville, Huntsville, and Birmingham etc…
• Longhorn reserves the right to adjust advance rate requirements as deemed necessary.

• All appraisals will be based on After-Repaired As-Complete Value
• Appraisals will only be ordered by Longhorn Investments

Borrower MUST provide a minimum 9-month insurance policy to be paid in full at closing. Borrower's insurance agent should provide a certificate of insurance or evidence of insurance, including invoice, to our processing department prior to closing.

• Insurance premiums are to be paid in full at closing. NO EXCEPTIONS.
• A builder's risk policy is required on all construction loans.
• Replacement cost coverage is required.
• The lender must be named as loss payee and additional insured.

Order your insurance early! Delay in providing insurance coverage can delay the closing of your loan!