Recently Funded Ground-Up Construction Loan In Kinston, North Carolina
Loan Scenario:
American Heritage Lending funded a $193,476 ground-up construction loan on a single-family detached home in Kinston, North Carolina, refinancing a professional builder into a single facility to carry the project through completion. The land carried an as-is value of $15,000, and the construction budget came to $196,224 against a projected completed value of $285,000. The AHL loan closed at 90% loan-to-cost and roughly 67.89% of the after-repair value, leaving a solid margin between the loan and the finished number. It structured as a 12-month interest-only loan, so payments stay low through the build while the builder draws on the budget as work progresses. That interest-only carry gives an experienced builder holding a sizable portfolio the room to focus on delivering the home.
The scope is a full ground-up build. First, the site is surveyed and permitted, with temporary utilities, septic permit, and lien work handled up front. Then the slab is prepped and poured — sand clay, grading, and roughly fifty yards of concrete with anchor bolts set. Next, framing and sheathing go up, followed by roof trusses, windows, and exterior doors to dry the structure in. From there, the mechanical rough-ins run — HVAC, plumbing, and electrical, including an underground power supply — before roofing, insulation, and drywall close the walls. Finally, interior finishes complete the home: paint, doors and trim, cabinets, quartz counters, tiled baths, flooring, and a final cleanup.
Kinston anchors Lenoir County in eastern North Carolina, and its economy centers on the North Carolina Global TransPark, where Spirit AeroSystems builds aircraft components and a recent U.S. Navy agreement is bringing hundreds of additional jobs. That aerospace and advanced-manufacturing base supports demand for new, move-in-ready housing in a market where quality inventory is limited.
Overall, this deal shows how American Heritage Lending backs professional builders with practical construction financing. Ninety-percent leverage on cost, interest-only carry, and a conservative loan-to-value against the completed value give the builder the runway to finish and exit.
Similar Recently Funded Case Studies: Ground-Up Construction Loan in Newnan, GA • Ground-Up Construction Loan in Palm Bay, FL • Ground-Up Construction Loan in Dallas, TX
Key Deal Points
| Address | Kinston, NC |
| Loan Type | Ground Up Construction – Refinance |
| Borrower Profile | Professional |
| Property Type | Single Family Detached |
| Land Price | $15,000 |
| Construction Budget | $196,224 |
| After Construction Value | $285,000 |
| Loan Amount | $193,476 |
| LTC | 90.00% |
| LTARV | 67.89% |
| Term | 12-Month Interest-Only |
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