LOAN PROGRAM
We can usually underwrite and close a loan in 10 days or less as long as developer provides requested documentation when requested!

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)
- 6.99% – 12% interest only payments with balloon at term end
- 2% – 5% origination fee, depending upon loan product and loan amount
Prior Developments
Credit Score
%
Up to 70% ARV
Available Loan Products
Product Type | Experience | Credit Score | Down Payment | Loan Term | Loan Rate | Origination Points |
No Cash Out of Pocket - Loan Under $200k | 3 Deals in 3 Yrs | 640 | None | 6 Months | 12.00% | 5.0% |
No Cash Out of Pocket - Loan $200k - $499k | 3 Deals in 3 Yrs | 640 | None | 6 Months | 12.00% | 4.0% |
No Cash Out of Pocket - Loan $500k+ | 3 Deals in 3 Yrs | 640 | None | 6 Months | 12.00% | 3.0% |
90% LTC Acquisition | 3 Deals in 3 Yrs | 640 | 10% | 12-24 Months | 7.99% | 2.0% |
85% LTC Acquisition | 3 Deals in 3 Yrs | 640 | 15% | 12-24 Months | 6.99% | 2.0% |
Ground-Up 90% LTC | 3 Deals in 3 Yrs | 640 | 10% | 12-24 Months | 7.99% | 2.0% |
Ground-Up 85% LTC | 3 Deals in 3 Yrs | 640 | 15% | 12-24 Months | 6.99% | 2.0% |
Apply for Funding
Carstensz provides short term financing for residential real estate development needs from Richmond to Baltimore with a hyper-focus on the DMV Metro area.