Domus finances ground-up projects of 2 to 4 units, including townhomes, with one loan for the whole project. Leverage is 85% of project cost (LTC) as standard, and up to 90% case by case for highly experienced borrowers. The maximum is 4 units, and nothing above 4 units is financed.
| Units | 2 to 4 units per project. Maximum 4 units. Nothing above 4 units is financed. |
|---|---|
| Loan structure | One loan for the whole project, townhomes included. |
| Loan amount | $200,000 to $5,000,000. The loan maximum applies per loan. |
| Max LTC | 85% standard. Up to 90% case by case for highly experienced borrowers. |
| Max LTARV | 75%, measured on the whole project. |
| Rate and points | Rate from 9% and points of 1% to 2% of the loan amount, as of October 2026. |
| Minimum FICO | 680. |
| Term | 9 to 18 months. |
| Interest | Charged only on drawn funds. |
| Construction budget | Up to 100% financed. |
| Townhome terms | Townhomes are eligible on the same terms as single family. |
| Partial releases, townhomes | One unit at a time, by paying down 120% of the loan amount allocated to that unit. No release fee. |
| Partial releases, duplex and fourplex | Not available on a duplex or fourplex in one building. The loan is paid off in full. |
| Phasing | Built all at once, not in phases. No presales required. |
| Separate lots | Units must be on separate recorded lots before the construction loan is originated. |
| Draws | As many as you need. Percent complete is measured on the whole project. |
| Closing | 10 to 12 business days. |
| Markets | Florida, Georgia, South Carolina, North Carolina and Tennessee. Urban and suburban only, no rural. |
| Exit | Sale, or DSCR refinance with Domus. |
| Prepayment | 3-month minimum interest. If the loan is paid off within the first 3 months, you still pay 3 months of interest. After 3 months, no prepayment penalty. |
Updated . Business-purpose loans only. These terms are part of our ground-up construction loan program, where the complete program terms are listed.
On a townhome project you can pay off and release one unit at a time. To release a unit, you pay down 120% of the loan amount allocated to that unit. There is no release fee.
The loan is allocated equally across units: the loan amount divided by the number of units. The last unit pays off the remaining loan balance.
Townhome units must be on separate recorded lots before the construction loan is originated.
A duplex or a fourplex in one building is different. Partial releases are not available, and the loan is paid off in full.
After a unit is released, the interest reserve keeps paying interest. It depletes more slowly, because the loan balance is lower.
A project of 2 to 4 units is built all at once, not in phases, and no presales are required. You take as many draws as you need, and percent complete is measured on the whole project.
The maximum LTARV is 75%, and it is also measured on the whole project.
Interest is charged only on drawn funds. The request, the inspection and the funding of each draw are covered in how construction loan draws work.
This is an example calculation with round numbers, not a real deal. It shows how the release paydown is worked out on a four-townhome project with a $2,000,000 loan, assuming the full loan amount has been drawn.
| Loan amount | $2,000,000 |
|---|---|
| Number of townhomes | 4 |
| Loan allocated to each unit ($2,000,000 divided by 4) | $500,000 |
| Paydown to release one unit (120% of $500,000) | $600,000 |
| Release fee | $0 |
| Loan balance after the first release | $1,400,000 |
| Loan balance after the second release | $800,000 |
| Loan balance after the third release | $200,000 |
| Fourth unit pays off the remaining loan balance | $200,000 |
| Loan balance after the fourth unit | $0 |
In this example, each release pays the loan down by $600,000, which is more than the $500,000 allocated to the unit. After three releases, $200,000 of the loan is left. The fourth unit pays off the remaining $200,000, and the loan is repaid in full.
Example only. Updated . Business-purpose loans only.
There are two exits from a Domus construction loan: a sale, or a DSCR refinance with Domus.
Each sale releases that unit at 120% of its equal share of the loan. The last unit pays off the remaining loan balance.
One sale or one refinance pays off the whole loan.
The refinance requires the certificate of occupancy. On a duplex or fourplex, no more than 1 unit can be vacant at refinance. On a townhome project, if a unit does not sell, you can refinance the remaining units with Domus.
There is a 3-month minimum interest. If the loan is paid off within the first 3 months, you still pay 3 months of interest. This also applies to townhome releases made within the first 3 months. After 3 months, there is no prepayment penalty.
Extensions are considered case by case.
On a townhome project, yes. You can pay off and release one unit at a time by paying down 120% of the loan amount allocated to that unit. The loan is allocated equally across units, so the allocation is the loan amount divided by the number of units. There is no release fee. A duplex or fourplex in one building has no partial releases: the loan is paid off in full.
There is a 3-month minimum interest. If the loan is paid off within the first 3 months, you still pay 3 months of interest. After 3 months, there is no prepayment penalty. The same applies to a townhome release made within the first 3 months.
For ground-up construction, the project types are spec single family, townhomes, infill, teardown and rebuild, and duplex to fourplex, up to a maximum of 4 units. Every loan is business-purpose, non-owner-occupied, residential and first lien. Condos are a property type on our bridge loans in Miami-Dade, Broward and Palm Beach counties. We do not finance condo construction. We do not lend on commercial or industrial property.
Yes. You can refinance into a DSCR loan with Domus once the property has its certificate of occupancy. On a duplex or fourplex, no more than 1 unit can be vacant at refinance. On a townhome project, if a unit doesn’t sell, you can refinance the remaining units with Domus.
By Maximiliano Extrakt, Co-Founder, Domus Lending Group. Updated .
Business-purpose loans only.
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