SPECIAL SITUATIONS · Capital guide
Refinance After Construction
A successful construction exit requires more than a certificate of occupancy. Permanent lenders test stabilized income, seasoning, leasing, reserves, and debt-service capacity.
The refinance amount is constrained by value, leverage, and cash flow. The lowest of those tests often controls.
01 / Credit frame
What shapes the financing discussion
- 01 Completion and closeout
- 02 Lease-up or sales pace
- 03 Permanent debt proceeds under stress
02 / Common friction
A mistake that slows the process
Planning to refinance at the construction balance without sensitizing NOI and value can create a maturity shortfall.
03 / Preparation
What to have ready
- CO and closeout documents
- Current rent roll
- Operating history
- Permanent loan sizing
- Shortfall contingency
Questions borrowers ask
Does this guarantee financing?
No. Financing remains subject to lender underwriting, borrower qualifications, sponsor experience, project feasibility, location, budget, permits, collateral, loan purpose, and applicable requirements.
Is this for owner-occupied projects?
No. Capital to Keys is designed for business-purpose, investment construction and development financing—not consumer-purpose residential mortgages.
What should I do next?
If the project is real and the core facts are available, complete the existing Capital to Keys questionnaire for an initial alignment review.
Related financing guides
Ready to test the project against the market?
Use the existing questionnaire. No competing intake form has been created here.