Full Version: speculative lot loans
I have a buyer that wants to borrow $1.75 million for 8 different pre construction homes in the same subdivision. The land isnt even cleared yet, and the builder basically wants him to finance the construction before he begins. It seems the builder wants someone else to pay for it then he'll build it. Is there a lender that will lend on this type of deal??
QUOTE(butter @ Jul 14 2005, 03:17 PM)
I have a buyer that wants to borrow $1.75 million for 8 different pre construction homes in the same subdivision. The land isnt even cleared yet, and the builder basically wants him to finance the construction before he begins. It seems the builder wants someone else to pay for it then he'll build it. Is there a lender that will lend on this type of deal??
RG- Crown bank will finance invetsment properties for construction-perm.
If they are in Florida, call me.
Mike Freed
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