For accredited and private lenders
Lend with us
We borrow from private lenders and capital partners to buy lots and build new homes in the Upstate. Loans are secured by real property, paid as agreed, and documented by a local attorney. Not a public offering.
- 1st
- Position lien on every loan
- 6–12 mo
- Short-term builds
- 2–5 yr
- Long-term notes
- 8
- Upstate counties
What we build
New Cavco manufactured and modular homes on half-acre to two-acre lots in Greenville, Spartanburg, Anderson, Pickens, Oconee, Laurens, Cherokee and Union counties. Three to four bedrooms, 1,100 to 2,100 square feet, finished and sold between the high $160,000s and the high $280,000s. Homes are sold for cash, to buyers with bank loans, or with owner financing that we carry.
What we borrow for
Lot purchases
Buying approved lots, usually several at a time in one county.
Construction
The home order, foundation, set, utilities and finish work on a specific address.
Owner-financed notes
Carrying the notes we hold on sold homes while the buyer pays monthly.
Seller-finance takeovers
Taking over and reselling homes we acquire on terms.
Typical terms and timelines
Every figure below is a typical range, not an offer. Actual terms are set per loan, in writing, after both sides review the property and the numbers.
Short term, accruing
- Term
- 6 to 12 months
- Payments
- Interest accrues and is paid with principal at payoff
- Typical amount
- $75,000 to $250,000
- Typical use
- Lot purchase and build on one or two homes, repaid at sale
Short term, monthly payments
- Term
- 6 to 12 months
- Payments
- Interest paid monthly, principal at payoff
- Typical amount
- $75,000 to $250,000
- Typical use
- Build loan where the lender wants monthly income
Long term, monthly payments
- Term
- 2 to 5 years
- Payments
- Interest, or interest and principal, paid monthly
- Typical amount
- $100,000 to $500,000
- Typical use
- Funding owner-financed notes or a pool of lots
Long term, accruing
- Term
- 2 to 5 years
- Payments
- Interest accrues, balloon at maturity
- Typical amount
- $100,000 to $500,000
- Typical use
- Capital partners who want growth rather than income
| Loan type | Term | Payments | Typical amount | Typical use |
|---|---|---|---|---|
| Short term, accruing | 6 to 12 months | Interest accrues and is paid with principal at payoff | $75,000 to $250,000 | Lot purchase and build on one or two homes, repaid at sale |
| Short term, monthly payments | 6 to 12 months | Interest paid monthly, principal at payoff | $75,000 to $250,000 | Build loan where the lender wants monthly income |
| Long term, monthly payments | 2 to 5 years | Interest, or interest and principal, paid monthly | $100,000 to $500,000 | Funding owner-financed notes or a pool of lots |
| Long term, accruing | 2 to 5 years | Interest accrues, balloon at maturity | $100,000 to $500,000 | Capital partners who want growth rather than income |
Rates are typically in the range a lender would expect for secured private real estate lending and depend on term, amount and position. Call for current terms.
How we secure the loan
Every loan is documented the way a bank would document it, with the paper recorded at the county and the lender named on the insurance.
- A recorded first mortgage on the lot and home, or on a pool of properties
- A promissory note with the rate, term, payment schedule and default terms in plain language
- Documents prepared and recorded by a South Carolina closing attorney
- Builder risk and hazard insurance naming the lender as loss payee
- Title insurance on the collateral property
- Monthly updates on construction and sales, and a payoff statement at any time on request
For accredited and private lenders. Not a public offering.
Talk to us about lending
We reply within one business day. This is not an offer or solicitation of securities; each loan is a separate private agreement.
Questions lenders ask
Is my loan secured by real estate?
Yes. Every loan is secured by a recorded mortgage on the lot and home, or on a group of properties, with title insurance and hazard insurance in place.
How do I get paid?
By the schedule in the note: monthly interest, monthly principal and interest, or accrued interest at payoff. Payments go by ACH or check from our operating account.
What is the minimum amount?
Most of our loans start around $75,000, which covers a lot and one home. Smaller amounts can work inside a pooled loan. Call and we will tell you what is open.
Can I see the properties?
Yes. We will give you the addresses, the budget, the comparable sales and a walk-through of finished homes before you lend.