GROUND-UP CONSTRUCTION · Indiana (IN) Underwriting Matrix · Stephen R. Mannenbach, J.D., MBA

Indiana Ground-Up Construction Loans (Spec Homes, Duplex/Fourplex & Build-to-Rent) — 2026 Rates, LTV Caps & State Rules

Indiana Ground-Up Construction provide business-purpose real estate investors with Up to 85% LTC / 70%–75% Completed ARV across loan amounts from $100,000 – $15,000,000+ at 9.75% – 11.75% Interest-Only on Drawn Funds (12 – 24 Months Interest-Only, 660+ FICO min FICO, 14 – 21 Business Days close). In Indiana (IN), lenders underwrite to a Judicial (3-Month Statutory Waiting Period) statutory framework (150–210 days-day average timeline), a 0.81% average property tax rate (~$172/mo at the $255,000 state median), and $510/$100K hazard insurance (~$108/mo).

Max Leverage / LTC
Up to 85% LTC / 70%–75% Completed ARV
Min FICO: 660+ FICO
2026 Rate Band
9.75% – 11.75% Interest-Only on Drawn Funds
12 – 24 Months Interest-Only
IN Security Instrument
Judicial (3-Month Statutory Waiting Period)
150–210 days days avg timeline
IN Avg Tax & Ins
0.81% Tax
$510/$100K Hazard Ins

Indiana County-Level Property Tax & Insurance Hubs (3)

Marion County, IN
Marion County, IN · 0.92% Tax · $535/$100K Ins
Hamilton County, IN
Hamilton County, IN · 0.84% Tax · $515/$100K Ins
Lake County, IN
Lake County, IN · 1.15% Tax · $560/$100K Ins

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Indiana Ground-Up Construction (2026) — Up to 85% LTC / 70%–75% Completed ARV, 9.75% – 11.75% Interest-Only on Drawn Funds | Stephen R. Mannenbach | Stephen Mannenbach