Recently Funded Ground-Up Construction Loan In Lenoir City, Tennessee
Loan Scenario:
American Heritage Lending backed an experienced builder with a $735,000 ground-up construction refinance on a detached PUD in Lenoir City, Tennessee. The project pencils out with a $165,000 land basis, a $790,350 construction budget, and a projected $1,050,000 completed value, coming in at 80.74% loan-to-cost and 70.00% loan-to-ARV on a 12-month interest-only, True Zero Point term.
The no-cash-out refinance recapitalized a substantial lakeside build, with a scope that spans builder’s-risk coverage and logistics, permits and survey, utility and septic connections, earthwork, a full framing package, siding and roofing, windows and exterior doors, and interior trim and hardware. Three qualifying completed projects gave this borrower the depth of experience a build at this value demands.
Lenoir City lies just southwest of Knoxville along the Tellico and Fort Loudoun lakeshores, one of East Tennessee’s fastest-growing waterfront markets, where well-built lake homes command premium pricing. A seven-figure completed value in that setting is a strong candidate for the program’s leverage and timeline, and our construction loan is built for exactly these projects. Builders can start the conversation on our financing page.
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Key Deal Points
| Address | Lenoir City, TN |
| Loan Type | Ground Up Construction – Refinance |
| Borrower Profile | Experienced |
| Property Type | Detached PUD |
| Land Price | $165,000 |
| Construction Budget | $790,350 |
| After Construction Value | $1,050,000 |
| Loan Amount | $735,000 |
| LTC | 80.74% |
| LTARV | 70.00% |
| Term | 12-Month Interest-Only |
| Loan Structure | True Zero Point Loan |
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