Recently Funded Ground-Up Construction Loan In Palm Bay, Florida
Loan Scenario:
A newer builder turned to American Heritage Lending to refinance a ground-up single-family project in Palm Bay, Florida, after purchasing the lot earlier this spring and getting construction underway. With just one prior ground-up project to their name, the borrower needed a lender comfortable underwriting limited experience, and our team structured a construction loan to carry the build through completion.
The deal paired a $260,729 construction budget with a $247,967 loan amount against a $374,000 after-construction value, penciling out to 85% loan-to-cost and a conservative 66.3% loan-to-after-repair-value — all delivered as a true zero-point, 12-month interest-only structure with a plan to sell upon completion.
Palm Bay sits on Florida’s Space Coast, where the aerospace and defense economy around the Kennedy Space Center and a wave of private space employers have fueled sustained housing demand. For a builder delivering brand-new inventory, that steady influx of workers and affordability relative to the coastal metros creates a receptive market for a finished single-family home. If you’re planning your next build, we’d welcome the chance to discuss your financing.
Similar Recently Funded Case Studies: Ground-Up Construction Loan in Lafayette, CA • Ground-Up Construction Loan in Memphis, TN • Ground-Up Construction Loan in Kinston, NC
Key Deal Points
| Address | Palm Bay, FL |
| Loan Type | Ground Up Construction – Refinance |
| Borrower Profile | Limited Experience |
| Property Type | Single Family Detached |
| Land Price | $55,000 |
| Construction Budget | $260,729 |
| After Construction Value | $374,000 |
| Loan Amount | $247,967 |
| LTC | 85.00% |
| LTARV | 66.30% |
| Term | 12-Month Interest-Only |
| Loan Structure | True Zero Point Loan |
Additional Images
