Eagle Funding has a range of specialised property development loans to suit your need. These range from a percentage of land and construction costs which are very competitvely priced to the more expensive loans that allow you to borrow on the end valuation of the project.
The table below outlines the main features of our development loans. Click the more info link under the name of each loan for more information.
| DEVELOPMENT
FUNDING AT A GLANCE |
| |
80%
OF END VALUE
DEVELOPMENT FUNDING |
75% OF LAND AND
CONSTRUCTION HARD COSTS
|
| Description |
Loans for the
Developer wanting to put in as little of their
own money as possible. |
Loans for the Developer happy
to contribute a higher percentage of the costs
so they can receive a lower interest rate on
their funds.
|
| Non Recourse Loans |
Available
on the strength of the application |
Available
on the strength of the application |
| Lite Doc |
Available to 75% End Value with an Accountants
letter
|
Available with an Accountants
letter |
| Documet
Requirements |
1.
Full corporate information; i.e. ACN, directors,
shareholders, date of incorporation together with
a brief outline/history of the company and it’s
business.
2. Full personal information for directors and
guarantors; i.e. date of birth, drivers license
number
3. Copy of assets and Liabilities statements on
all Borrowers/Guarantors
4. Last 3 years Company and Director’s tax
returns, company profit/loss statements and balance
sheets
5. Builders resume and capability statement
6. Solicitors, Accountant and Bankers details,
including name, address, telephone number and
contact
7. Description of the proposed development
8. Full Project Feasibility
9. Details of Project status (i.e. land settled,
ready to contruct, awaiting DA ect)
10. Details of sales achieved to date and future
sales prior to construction commencement
11. Copy of Plans and Permits
12. A copy of the fixed price building contract.
|
1. Full corporate information;
i.e. ACN, directors, shareholders, date of incorporation
together with a brief outline/history of the
company and it’s business.
2. Full personal information for directors and
guarantors; i.e. date of birth, drivers license
number
3. Copy of assets and Liabilities statements
on all Borrowers/Guarantors
4. Last 3 years Company and Director’s
tax returns, company profit/loss statements
and balance sheets
5. Builders resume and capability statement
6. Solicitors, Accountant and Bankers details,
including name, address, telephone number and
contact
7. Description of the proposed development
8. Full Project Feasibility
9. Details of Project status (i.e. land settled,
ready to contruct, awaiting DA ect)
10. Details of sales achieved to date and future
sales prior to construction commencement
11. Copy of Plans and Permits
12. A copy of the fixed price building contract
|
| Servicability |
Based on the strength of
the project. Although Tax returns are required
they are to demonstrate no tax liabilites.
|
Based on the strength of the
project. Although Tax returns are required they
are to demonstrate no tax liabilites
|
| Interest
Capitisation |
Yes for strong projects
|
Yes
for strong projects |
