Construction Loan Program Guidelines

WADOT Capital Inc. is primarily a Loan To Value (LTV) driven lender.  Maximum LTV is typically 65%, but on cash down purchases, the LTV may be increased to 70%.  Additional collateral may be used under certain circumstances to offset LTV requirements.

Projected/at completion values are analyzed, but not typically used when calculating LTV’s.  WADOT places significant weight in the acquisition cost of the property, plus estimated repair/completion costs, when determining the current value of the project.  These “costs” are generally used as the value of the collateral when calculating the LTV, making loan to cost and loan to value potentially one in the same.

Loan Purpose

Any Investment or Business Purpose Loan

Property Types

All property types considered 

Lending Areas

Urban areas preferred, but no location within Washington, Oregon or Idaho excluded

Borrower Types

• Individual        
• Trust
• LLC
• Corporation
• Estate
• Partnership

Property Condition

Any condition

Project Types

• Owner Contractor
• Partially Completed and Construction Finish Up
• Rehab
• Mobile Home Setup – must be on real property
• Land Development

Guidelines

• Credit – no requirements
• Income – no requirements, borrower must have a realistic plan for repayment
• Prepayment Penalty – NONE