6.99% fixed rate
Up to 60% LTV
No interest payments for 1 year initial term, thereafter pay monthly. Interest may be capitalized into loan at end of year 1 and loan extended subject to no LTV increase per updated valuation.
Up to 3 years of total term, depending on scope of development and needs
If part of large development, you may work with other lenders in addition to BFI on Spec and Presales