Learning center
Developer Insights
Working knowledge for developers and builders: how construction loans are sized, how capital stacks are assembled, and how project problems actually get solved.
Development finance runs on a body of working knowledge that rarely gets written down plainly: how a construction loan is actually sized, what an interest reserve is for, why an appraisal premise changes the proceeds, what happens, mechanically, when a lender stops funding draws. These articles write it down.
The library is organized around the questions developers actually bring to us. Development finance basics covers the vocabulary and arithmetic every capital conversation assumes: loan-to-cost, sources-and-uses, equity. Construction loans goes deep on ground-up financing across product types, from spec homes and townhome infill to multifamily and build-to-rent. The capital stack explains how senior debt, mezzanine, preferred equity, and newer instruments fit together. Working through project problems addresses the hard files (stalled projects, overruns, maturities) with the candor those situations deserve. Process and execution covers the transitions and handoffs that separate smooth projects from expensive ones.
Every worked example is illustrative and clearly labeled; program parameters are confirmed during project review rather than published as numbers. Our core transaction range is $3 million to $25 million, with the deepest coverage between $3 million and $15 million, and the worked examples reflect that weighting deliberately. When an article raises a question about your own project, the project review is the fastest way to get a specific answer.
Development Finance Basics
What Belongs in a Developer's Sources-and-Uses Statement?
The sources-and-uses statement is the first document an underwriter trusts or distrusts. What belongs on each side, how the two must reconcile, and the omissions that surface mid-project.
Eddie Luhrassebi · July 23, 2026
Construction Loans
What Lenders Evaluate on a $5 Million Multifamily Construction Loan
Inside the underwriting of a boutique multifamily construction loan: the budget, the rent story, the sponsor, the builder, and the refinance math that decides whether the file works.
Eddie Luhrassebi · July 9, 2026
The Capital Stack
Senior Debt, Mezzanine Debt, and Preferred Equity Explained
Each layer of the capital stack holds a different claim, takes a different risk, and earns a different return. What actually distinguishes senior debt, mezzanine debt, and preferred equity.
Eddie Luhrassebi · June 25, 2026
Development Finance Basics
Loan to Cost Versus Loan to Value in Development Financing
Loan-to-cost measures how much of the project the debt funds; loan-to-value measures the cushion in the finished asset. Understanding which constraint binds explains most sizing outcomes.
Eddie Luhrassebi · June 18, 2026
Development Finance Basics
How Much Equity Does a Developer Need for a Construction Loan?
Equity on a construction loan is a structure, not a single number. What lenders count, how land basis and predevelopment spending earn credit, and the honest ways to close a gap.
Eddie Luhrassebi · June 4, 2026
Development Finance Basics
Financing an $8 Million to $15 Million Residential Development
What changes when a residential project crosses into the $8 million to $15 million range: broader capital options, layered structures, phasing decisions, and a heavier execution load.
Eddie Luhrassebi · May 21, 2026
Construction Loans
How Developers Finance a $3 Million to $7 Million Ground-Up Construction Project
A practical walkthrough of how ground-up construction loans in the $3 million to $7 million range come together, from the sources-and-uses through sizing, equity, draws, and the exit.
Eddie Luhrassebi · May 14, 2026
Construction Loans
Construction Loan Interest Reserves Explained
The interest reserve pays the construction loan's own interest while the project builds. How the line is sized, why the draw curve drives the math, and what happens when it runs out.
Eddie Luhrassebi · April 30, 2026
