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Program 03
Ground-Up Construction in Vancouver
Ground up construction loans built for Vancouver, Washington's growth.
Built for spec home builders and developers. We finance the land and the vertical build up to 70% LTV and 85% of cost, with draws that keep pace with your schedule. Clark County's fastest-growing city, Ridgefield, is absorbing new product at a pace few builders see twice in a career. Business-purpose only, and every structure is set in underwriting.
70%
max LTV
85%
of cost
Most states
funding
$5M
max loan
Typical figures, subject to underwriting and market conditions. Not a commitment to lend.
How it works
We finance both the land and the vertical construction, with a draw schedule built around your timeline. Experienced builders can access higher leverage on cost.
Who it's for
Spec home builders
Developers and operators
Lot purchase or teardown
Build-to-rent strategies
Typical terms
Loan amountUp to $5M
LeverageUp to 70% LTV / 85% LTC
Term12 to 24 months
DrawsPer build schedule
RateFrom 10.00%*
UseSpec or build-to-rent
*Typical terms, subject to underwriting and market conditions.
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Local FAQ
Ground-Up Construction in Vancouver, answered.
Does Washington's new statewide rent cap apply to a spec home I build to hold as a rental?
Not for its first 12 years, which is a real edge on a build-to-rent exit. RCW 59.18.700 caps a rent increase on most Washington rentals at 7% plus CPI or 10%, whichever is less, 9.683% for calendar 2026, but it exempts a dwelling for the first 12 years after its certificate of occupancy issues. A ground-up build in Ridgefield, Battle Ground, or the Camas-Washougal corridor carries that exemption on day one, while older Vancouver-area stock does not. Talk to your attorney before relying on a specific property's exemption status. See the DSCR program for the hold-side financing once construction wraps.
When do I actually have to pay Vancouver's impact fees on a new build?
Later than you might expect, which helps your interest reserve. The City of Vancouver defers single-family impact fees and system development charges until late in construction rather than collecting them at permit issuance, with no administrative charge added for the deferral. Vancouver's impact fee structure itself is being replaced under Ordinance M-4533, effective 2026-07-31, and current dollar amounts were not published as of this research, so budget a placeholder line and confirm the fee schedule with the city before you finalize a construction budget.
Why is Ridgefield the name every Clark County builder keeps mentioning?
Population growth that outpaces every other city in the county by a wide margin. Ridgefield grew from 10,325 residents at the 2020 census to 16,820 by April 2026, up 62.9% in six years, the fastest of any city in Clark County. That absorption is real, but so is the carry: Ridgefield also posts some of the county's highest total property tax levy rates, up to about 10.10 per $1,000 of assessed value in parts of the city, against a county low near 5.24 in rural Battle Ground. Lot selection inside Ridgefield, not just the city choice, is what makes a spec build pencil.
What does an entry-level lot cost me across Clark County's cities?
It depends heavily on which city, and none of them is a low-basis market. Zillow's June 2026 mid-tier home value ran $511,271 in Vancouver, $611,494 in Battle Ground, $649,705 in Washougal, $668,604 in La Center, $675,596 in Ridgefield, and $754,336 in Camas. This is a repositioning and new-build market where the spread is made on scope and location, not on a low purchase price. Size your construction budget and exit off the submarket you are actually building in, not a countywide average.
Are Clark County building permit counts actually trending up for new construction?
The county-level trend is not confirmed for the most recent two years, so build your pro forma on the population data instead. Census-based building permit figures for Clark County show 4,194 units authorized in 2022, 3,500 in 2023, and 3,594 in 2024, with 2025 and 2026 figures not available as of this research. Ridgefield-specific permit counts circulating from commercial sources were not verified against the city and should be confirmed with Ridgefield Community Development before you rely on them. The county's 62.9% Ridgefield population growth since 2020 is the sourced, durable version of the same demand story.
Does the I-5 bridge replacement project change how I should think about a new build near Vancouver's waterfront?
It is a decades-long variable, not a near-term catalyst, so do not underwrite a build to a bridge that will not open until at least 2034. The Interstate Bridge Replacement Program's cost estimate has grown to a reported $13.5 billion to $15.2 billion for the full corridor as of March 2026, with construction start pushed to 2028 and a first phase of traffic possibly opening around 2034. Tolling is planned but delayed, with projections discussed as high as roughly $3 per crossing once it starts. A priced Oregon crossing strengthens the long-run case for living and working on the Washington side, but it is a multi-year story, not a reason to price a spec build's exit today.
How much of a Vancouver ground up construction project do I have to fund myself?
Roughly 15% of total cost, and it is measured against cost, not just the lot. We finance up to 70% LTV and up to 85% of cost. On a $1,000,000 all-in Clark County project that is up to $850,000 from us and $150,000 from you (1,000,000 x 85% = 850,000), with the vertical funded through draws on your build schedule rather than in a lump. Because Vancouver defers single-family impact fees until late in construction, that piece lands after your reserve has had time to work. Subject to underwriting.
What credit score do I need for a construction loan in Vancouver?
There is no minimum score on ground up construction. This is an asset-based loan underwritten on the land, the budget, and the finished value. We do pull credit, but it carries far less weight than at a bank, and there is no hard pull to get a conversation started. Where credit is thin, the usual answer is lower leverage rather than a decline, so you bring more than 15% of cost instead of hearing no. Subject to underwriting.
Do I need a build history to get a construction loan in Vancouver?
No, but experience changes the leverage. Experienced builders can access higher leverage inside the 70% LTV and 85% of cost range, and a first project usually prices below that. The 12 to 24 month term and the draw schedule are the same either way. In a county where Ridgefield has grown 62.9% since the 2020 census, absorption is not usually the question on a first spec build; the budget and the schedule are. Subject to underwriting.
More Ground-Up Construction questions, answered on the program page
Resources
Guides for Ground-Up Construction
Fix and Flip · 6 min read
Fix and Flip Loan Requirements: What You Need to Get Funded
Read the guide Fix and Flip · 5 min read
What Is ARV (After-Repair Value) and How Do You Calculate It?
Read the guide Construction · 5 min read
How Ground-Up Construction Loans Work
Read the guide Getting Funded · 4 min read
LTV vs LTC: What's the Difference?
Read the guide More in Vancouver
Other programs in Vancouver
Fix and FlipUp to 90% / 100% rehabRental / DSCR30-yr fixed, DSCR from 0.75CRE BridgeUp to $10M, 24-36 moTransactional FundingSame-day double-close capitalBank Statement / No-DocNo tax returns requiredConventional InvestmentNon-owner-occupied investmentPortfolio LoansMultiple properties, one loanCRE PermanentLong-term agency & permSBA Financing7(a) & 504 placement
About the local figures on this page
Local rules move. Every tax rate, fee, ordinance and market figure here comes from a primary source and carries the date we read it, and we correct them as the rules change. Where a number is mid-change or we could not verify it, we say so rather than guess. Before you commit a budget, confirm anything that drives it with the city or county, and talk to your attorney or CPA on questions of law or tax.
Published by USA Mortgage Funding, LLC, NMLS #152588. Researched from primary sources by our team, drafted with AI assistance, and every figure checked against its source before publishing. Where an answer rests on a public record, that record is linked under it. Figures read on 2026-08-15.
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