We can usually underwrite and close a loan in 10-12 days from receipt of ratified contract.

Borrower Criteria

While we do evaluate the individuals behind a development company, and we do require a personal guarantee; unlike a conventional mortgage bank, we can still approve most loans even if the strength of the guarantor is not perfect.

  • Minimum of 3 prior development projects completed successfully with HUD-1’s to support purchase and exit
  • Minimum Credit Score of 640+ (must provide letter of explanation for lower scores)
  • Loans are only made to development legal entity in good standing with the county and state of formation
  • Personal guaranty from borrower required
  • First liens only
  • Loan amounts up to 70% of the After Repaired Value (excluding points & fees)
  • 6 – 12 month term
  • 2 month optional extension (extension fees may apply)
  • 9.99% – 12.99% interest only payments with balloon at term end
  • 2% – 4% origination fee, depending upon loan product and loan amount

Prior Developments

Credit Score


Up to 70% ARV

Available Loan Products

    * The rates shown are “starting at” rates and are subject to change in whole or in part based upon additional due diligence, underwriting, credit analysis, and current market conditions.

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      Carstensz provides short term financing for residential real estate development needs from Richmond to Baltimore with a hyper-focus on the DMV Metro area.