Hard Money Loans for
New Construction Projects

Short-term, interest-only loans for residential new construction projects.

Yes, we offer financing for new construction projects, including up to 100% of construction costs.
Types of ProjectsSingle-family home, 2-4 family properties, townhouses and condos
Max TermUp to 15 months
DetailsInterest-only loan, first position
Loan Amount$100K+
Loan to Cost (LTC)Up to 85%
Construction CostsUp to 100%
Exit StrategySell, Rent + Sell, Rent + Refi Out
StatesCurrently lending in 35 states (see map below).
Types of Projects
Single-family home, 2-4 family properties, 5+ multi-family, townhouses and condos
Max Term
Up to 15 months
Interest-only loan, first position
Loan Amount
Loan to Cost (LTC)
Up to 90%
Construction Costs
Sell, Rent + Sell, Rent + Refi Out
Exit Strategy
Sell, Rent + Sell, Rent + Refi Out
Currently lending in 35 states (see map below).
UPRIGHT new construction loans

How is a New Construction Loan Different Than Other Hard Money Loans?

New construction loans differ from rehab loans in that the loan needs to accommodate the supplies, labor, inspections, etc. to construct the property — as well as the completed project.

Single Family
Duplex, Triplex, or Quadplex
Condos and Townhomes

Who Do We Work With?

Upright works with experienced, professional developers and rehabbers with the best deals in the best real estate markets. You’ve got a business to grow, and we’re not looking to mess around.
Looking to scale your business
4 completed and repaid deals in the past 24 months
Cash on-hand for the down payment and closing
VIPs looking for great rates
Where we currently lend
Upright Loans

Frequently Asked Questions

What is a new construction loan?

A construction loan is a type of bridge loan or hard money loan. The loan is secured by the value of the asset to be built. The loan covers a portion of the cost to purchase the land, if needed, as well as the supplies, labor, etc. to build the property. The leverage is based off of the value of the finished property.

Can I finance construction costs?

Yes. We have the capability to fund up to 100% of construction costs. Similar to other funding mechanisms, after closing we'll hold a portion of the construction funds in escrow and release them as project milestones are met, subject to inspection.

Can I refinance out of a hard money loan?

Yes. Many borrowers refinance out of the Upright loan, or rent the property and refinance out into a long-term loan.