WHO WE ARE
Ascension Real Estate Funding is a solution-based construction and development lender throughout the US, Canada, Central America, the Caribbean and other locations case by case. We are not brokers and our programs will be very different than any bank you have dealt with.
We are a unique fund, looking for well-qualified developers with great projects. We are open to project type, unique concepts, and “out of the box” ideas. Every funding has pricing geared to your project, not some carved in stone bank guideline. We like creativity, new ideas, and next generation concepts. you will find our team will focus on you and your project like no other.
We offer both debt and joint venture funding and invest our capital into JV deals. We do not fund against business plans, or value created by an appraisal. Typical debt deals will require 20%-30% new cash invested at closing, no exceptions, and JV’s will require 10%-20%. Down payments (cash at closing) are ALWAYS part of our capital stack. Pricing will be controlled by your draw schedule, equity invested prior to our closing, your resume, project location and project size.
Our process is straight forward, with a reasonable underwriting process, site inspection, and term sheet or LOI issued. You will find us competitive, open minded, thorough, and fair. 50% of our closings are repeat joint ventures with previous clients, 15% are repeat debt deals, and the remainder are new clients we approve.
Want to talk, give us a call, or send a completed Submission Form to start the process.
WHAT WE DO
We are the direct lender and we review, underwrite, and process all submissions internally. Funding is based on many factors, but the focus is always a quality project, in the right location, with the right development team, from the developer to the architect/engineer, general contractors, project management, etc.
OUR PROCESS
We are the lender, and all programs require a cash down payment at closing, an approved budget, pro formas, and monthly cost projections to match in a standard draw schedule. Our process starts with a simple Submission Form submitted directly to Ascension. Once we have reviewed that submission, we schedule meetings or calls, to review the project, our underwriting process, that ends with a closing. Underwriting is industry standard, typically taking 2-4 weeks based on the info you provide, and closing is possible in 30-60 days. Underwriting will definitely include a site inspection, face to face meetings with borrower and team, with full verification of all documentations. As a Direct Lender, we do not believe in ‘upfront fees’ and do not charge for submissions, processing, or underwriting. We get paid at the closing, from the loan. We accept direct submissions from developers, and professional brokers.