EasyBuild
EasyBuild is the perfect solution for home builders. All construction loans are serviced in-house from start to finish providing a unique level of exceptional customer service in the real estate investing industry. We understand the importance of getting paid on time and want to ensure that your construction project is completed as quickly and efficiently as possible. Our new construction program is incredibly easy to navigate and we as a company, want you to succeed by making the process incredibly straightforward and easy.
Program Terms
Easy Street Capital provides hard money construction loans for developers building residential properties. The New Construction Program is the right fit if you are tearing down an existing home to build new construction or are simply purchasing a lot to build on. With any construction project it is important to have a timely financing partner. Easy Street Capital prides itself on delivering an exceptional level of service for our borrowers and making sure that construction draws are processed in 48-72 hours. Making sure your contractors get paid on time is key to a successful project. Easy Street Capital looks forward to being your financing partner for your next construction project.
- Loan Size $75,000 - $2 Million Per Unit
- NO Prepayment Penalty
- 9-12 Month Term (w/ extension provisions)
- 10.9% - 11.9% Monthly Interest Only Payments
- Discounted pricing for repeat borrowers
- 1.5-3 Points
- $1495 Doc Fee
- Up to 85% Loan to Cost (LTC)
- Up to 65% Loan to Value (LTV)
- Geography: Nationwide (except LA, MN, MO, ND, NV, NY, SD)
New Construction Recent Fundings
Easy Street Capital has a proven track record of success exceeding the expectations of our new construction borrowers.
New Construction and Hold
Sebring, FL
Experienced borrower completing a new construction project in Sebring, FL with an exit strategy to refinance.
New Construction
Nashville, TN
Repeat borrower completing a full renovation in Nashville, TN with an exit strategy to sell.
New Construction
Eden, UT
Borrower completing a new construction in Eden, UT with an exit strategy to sell.
New Construction FAQs
FREQUENTLY ASKED QUESTIONS
Real estate investors use hard money primarily for speed, higher leverage, and greater flexibility. Borrowers use Easy Street Capital for the reasons mentioned previously but also because of our relationship focus and reliability - capital you can count on!
Easy Street Capital prides itself on reliability. Our borrowers know that the terms we issue up front are the same terms at funding. Easy Street Capital will review your application and provide you with an EasyBuild loan term sheet within 24 hours. No surprises! No junk fees! Easy Street Capital is truly an asset-based lender.
We lend nationwide with a few exceptions. See map for details: Where We Lend
Easy Street Capital's EasyBuild program requires a minimum credit score of 680.
Interest rates range from 10.9%-11.9%, 1.5-3 points, and a $1495 document fee. Please inquire about custom terms for experienced borrowers.
Easy Street Capital determines Loan To Value (LTV) calculations based on our in-house valuation of the property. In most cases the max LTV is 65% for our EasyBuild program.
Yes, our loans can fund the purchase and the new construction costs.
You can apply for a loan by filling out the 1-minute loan app. Click here to get started!
Draw Request FAQs
FREQUENTLY ASKED QUESTIONS
Statement on draw requests: Initiating a draw request is essential when it comes to obtaining funds for your project and keeping it moving forward. At Easy Street Capital, we understand transparency and clear communication are crucial, so we have compiled a list of frequently asked questions to address some of the most common inquiries below. We are committed to providing you with the support and guidance you need throughout the draw request process. We understand that construction projects can be complex, and our team is here to address any questions or concerns you may have. Together, we can ensure the success of your project.
1-2 business days from the time everything is provided to Easy Street.
You can take as many draws as necessary but there is a fee for each draw.
The draw request form is the scope of work completed prior to closing. The scope of work is used to identify what has been completed for each draw. Email draws@easystreetcap.com if you need a copy.
When your draw request is reduced or adjusted, it is typically because the amount requested does not align with the progress of the construction and the remaining draw balance. Our goal is to ensure that the property is market-ready and that the funds are being allocated appropriately. By adjusting the draw reimbursement, it will allow the remaining draw balance to better support the construction cost remaining. Remember, the remaining draw balance always needs to be sufficient to complete the project. If the remaining work begins to exceed the remaining draw balance, Easy Street will need to pause or reduce draw fundings until alignment is reached.
The draw request amount is determined based on several factors, including the progress of the construction, remaining draw balance, verification of receipts/invoices and the level of completion required for the property to be market ready. Our team at Easy Street Capital carefully evaluates these factors to determine the appropriate amount for your draw request.
If you believe that your draw request was inaccurately reduced or adjusted, we encourage you to reach out to our team We understand that there are unique circumstances that need to be taken into consideration. Our experts will review your draw and work with you to try to find an agreeable resolution where possible.
To increase the chances of your draw request being approved in full, it is important to closely follow the construction schedule, provide detailed documentation of the progress, and maintain open communication with our team. By demonstrating your commitment to the project and keeping us informed, we can work together to ensure a smooth draw request process.
You will need to provide material receipts for the work completed and keep a record of labor amounts paid to each worker. Submit copies of digital payments for labor. Zelle, Venmo, Cashapp, and/or copies of checks.
Apply Today
Take the next step in your investment journey with a trusted, reliable lender that has your best interest in mind. Get in touch or request a quote today.