SFR Tract Construction
Vineyard Bank's Residential Tract Lending Group (RTLG) provides residential tract loans to developers for the purpose of acquiring, entitling and developing "for sale" residential housing units. The primary objective of the department is to finance projects for developers/builders constructing entry-level to mid-level homes (based on sales prices) in both existing and/or burgeoning residential neighborhoods.
Specific lending products accommodate the construction of:
- Model Homes
- Phased Production Units
- Development of Lots
- Office
- Special Purpose
Although primarily targeting construction financing, the RTLG, as part of the development lending process, occasionally provides acquisition and development loans (A&D), transforming raw land into subdivided residential lots for future construction. Additionally, for both custom and speculative purposes, the department finances the construction of:
- Town Homes
- Condominiums
- Individual Single Family Homes
All loans are secured with a First TrustDeed on the subject development and are recourse in nature (guaranty required).
The Tract Lending Staff’s uniqueness stems from its composition of members, some beginning careers within the construction industry. This “hands on” knowledge from a construction aspect, coupled with the expertise and experience of additional lending staff members, adds value, surpassing most other tract lending divisions in the industry. In concert with Vineyard Bank’s embracing creativity and flexibility, the RTLG has proven its ability to offer "value-added" benefit to its customers.
SFR Construction
Vineyard Bank professionals provide construction loans to developers of single family homes and town
homes. Home owners are also provided with financing to build their dream home. Our staff has over 100
years of combined experience in real estate lending. We understand the nuances of construction lending
and the market. We can close transactions quickly – even complex ones.
One of the unique components of our operation is our disbursement process, streamlining the payments to suppliers and sub-contractors. The expertise of the SFR Construction team is reflected in our long term relationships with our customers and they support us with repeatedly returning to Vineyard Bank for their construction lending needs.