The funding will be used for the purchase and first phase of construction of a new residential site in Pilling, Lancashire.
The scheme will consist of a mix of 11 detached and semi-detached three-bed houses and nine four-bed houses.
The initial construction is expected to take 16 months.
There are plans for further units in phase two, with the site eventually consisting of 37 units, including four affordable homes.
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Andrew Llewellyn, regional relationship director at Assetz Capital, said: “This investment is particularly important, supporting the demand for housing across the Lancashire region and building on our objective to positively impact the overall UK housing market.”
Andrew Wright, managing director at Create Developments, added: “Assetz Capital’s support in this development has been vital in adding to our developments across Lancashire.”