Luxury is relative to its market.
A $3M house in Vienna is two and a half times the local median. In Miami Beach it is a lot with a teardown on it. The same loan amount is a different file in each market, and it is underwritten against that ratio rather than against the price.
- Loan size
- $1M – $100M
- Max loan to cost
- 75%
- As-complete value
- 65%
- Recourse
- Non-recourse
- Term
- Up to 3 yrs
- Draw funding
- 24 hrs
Two separate questions
Loan size decides who can look. Market position decides how it is read.
Most sources stop at $5M whether the property is a mansion or a duplex — that is a fact about their credit box, not about the house. Above that line the list of lenders shortens sharply, terms stop being published, and files are negotiated rather than submitted.
A property priced at two or three times its local median is underwritten differently from one priced at the median, at any loan size. Four things change together, and they compound.
At the top of a market there may be four closed comparables in twelve months rather than forty. The appraisal becomes the dominant risk on the file, and at this price the gap between your number and theirs is measured in hundreds of thousands.
Terms run up to three years rather than twelve to eighteen months, because the sale takes longer. Longer term means more carry, and the interest reserve is sized accordingly.
Fewer buyers can transact at the top of a market, and financing contingencies fall away as prices rise. Exit risk rises with price, and the lender prices for it.
Sources cap at 65% of as-complete value on this product rather than the 75 to 80% available on a median-priced build. More of the project is your equity, precisely where the project is largest.
What this capital is
Different money, not just more of it.
With standard carve-outs. On a median-priced flip or build you are signing personally; at this level the loan is secured by a first mortgage on the asset and the personal guarantee comes off. That is the single largest structural difference between this product and everything else on this site.
No amortisation over the build and sale. Extension options are considered case by case rather than written into the note.
Land, predevelopment, acquisition, ground-up construction, mid-construction takeouts, and inventory once the house is standing. A project that stalled under another lender is a normal file here, not an exception.
The capital is discretionary and the principals are developers. Files are judged on the business plan rather than scored against a matrix, which is why a project that fails a credit box can still be funded.
Closings in as little as 24 hours where the file is complete. That is the advantage of committed capital over a lender that has to syndicate the loan before it can fund.
No requirement to move banking, hold compensating balances, or pledge accounts. The loan is the whole relationship.
What is required
A track record, and the balance sheet behind it.
This product is not an entry point. It is priced and structured for sponsors who have completed projects at or near this scale.
An established record of completed projects, with net worth and liquidity proportionate to the loan. Prior projects at similar price points carry more weight than the number of projects.
Held in an LLC. No primary residences, no owner occupancy, at any point. This matches the eligibility line that governs every deal we place.
A complete plan set, a builder under contract, a budget that survives line-by-line review, and comparable sales that support the as-complete value rather than a hoped-for one.
No calculator on this page.
Deliberate — above $5M the terms are negotiated, and a calculator would imply they are not.