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

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

Maryland 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 Maryland (MD), lenders underwrite to a Quasi-Judicial (Order to Docket / Power of Sale) statutory framework (120–170 days-day average timeline), a 1.05% average property tax rate (~$363/mo at the $415,000 state median), and $490/$100K hazard insurance (~$169/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
MD Security Instrument
Quasi-Judicial (Order to Docket / Power of Sale)
120–170 days days avg timeline
MD Avg Tax & Ins
1.05% Tax
$490/$100K Hazard Ins

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

Baltimore City, MD
Baltimore City, MD · 2.24% Tax · $650/$100K Ins
Montgomery County, MD
Montgomery County, MD · 1.04% Tax · $540/$100K Ins
Prince George's County, MD
Prince George's County, MD · 1.38% Tax · $560/$100K Ins

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Maryland 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