Full Version: Construction loan for townhomes
I have searched everywhere and have not found it yet, so I thought I would ask here. I ran into a builder that is seeking consruction loans for his clients on townhomes. He has had trouble finding this because the townhomes are attached and have 2 separate buyers. Any advice would be helpful. Thanks
Who owns the land?
Why doesn't the builder get a loan himself, backed by sales contracts of the two units.
If the borrowers are going to be the homeowners, i can't help you there as that is not what I am familiar with.
Why doesn't the builder get a loan himself, backed by sales contracts of the two units.
If the borrowers are going to be the homeowners, i can't help you there as that is not what I am familiar with.
QUOTE(Marnie1065 @ Jan 24 2006, 12:42 AM)
I have searched everywhere and have not found it yet, so I thought I would ask here. I ran into a builder that is seeking consruction loans for his clients on townhomes. He has had trouble finding this because the townhomes are attached and have 2 separate buyers. Any advice would be helpful. Thanks
HOW MUCH IS HE LOOKING TO BORROW?
This is a "lo-fi" version of our main content. To view the full version with more information, formatting and images, please click here.