# Recommendations for Construction Loan Lender



## emily12345 (Nov 17, 2021)

Does anyone have any recommendations for construction loan lenders? Would be nice if they were targeting more towards developers. Thanks!


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## Fourthgeneration (Jul 25, 2021)

With current conditions, make sure they can't RAISE interest rates, and YOU can make payments as required to convert the loan.

I'd check with several lenders to compare, If you need a construction loan, why not Save MORE money and wait a year or to two for cheaper, higher quality materials to return to market.

Or buy a dead project a fraction of actual costs?

Build What YOU can afford in tough times coming with Uber interest rates, High Property taxes and silly income and equity stealing Taxes growing every year?????

make sure the loan company doesn't do business with the local big boys in your trade circle. keep some credit un tapped for enemy action and just plain old bad luck and governance.

I'd run a cash flow spread sheet with a third party like your accountant? to see how close to over financed you are getting.

You might spend a few hours study the last few great run-ups in interest rates in America and Europe, See Ireland/Iceland if you really want to get depressed.


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## Adam_PDD (Truck2go) (Aug 29, 2021)

emily12345 said:


> Does anyone have any recommendations for construction loan lenders? Would be nice if they were targeting more towards developers. Thanks!


Our company uses Hearth. You can check them out 
https://www.gethearth.com/


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## bambam7714 (Nov 11, 2018)

emily12345 said:


> Does anyone have any recommendations for construction loan lenders? Would be nice if they were targeting more towards developers. Thanks!


What state? Many banks wont lend in certain states.


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## emily12345 (Nov 17, 2021)

bambam7714 said:


> What state? Many banks wont lend in certain states.


California


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## Fishindude (Aug 15, 2017)

Banking is typically done locally or regionally.


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## bambam7714 (Nov 11, 2018)

emily12345 said:


> California


Emily, sorry it took so long to get back but I do have a construction lender in Cali for you. PM me if you still need it. He actually called me last week as he also lends in Texas where I live. 

He specializes in residential and construction only. Not commercial (but he can [he says] hook you up in that area too.


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## AllContractors1 (12 mo ago)

Local credit union


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## bambam7714 (Nov 11, 2018)

emily12345 said:


> California


I know a lender in Cali that can help you out of you still need one.


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## quantumflux (Jan 4, 2015)

Local credit union or bank as mentioned above - especially if this is your first loan. Being able to go in and speak to the person who has a say if you get the loan is HUGE.


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## Nizagin (8 mo ago)

You can ask for the help of large-down-payment mortgage lenders. This payment method can reduce our interest rate easily.


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## BenEvered (8 mo ago)

I think a local credit union may be a good option for taking the first loan. But a lot depends on the amount you want to take, the rates which the bank offers, and so on. When I needed to take a loan, I spent a lot of time searching for info about different banks and other institutions. I can also recommend you read about alternative financial services before choosing something. I think that it's worth spending some time, but find a lot of info and make the right decisions. Nowadays, there are a lot of lenders, and each has different offers, so it's important to choose the best for yourself.


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## LuisSilvan (6 mo ago)

I work in a construction company and businessmen often come to us who want to build real estate intended for different purposes. These guys take money for this property from banks through mortgages. I believe that they are doing the right thing and consider a mortgage a convenient mean to buy real estate. I also bought an apartment for my son with a mortgage. Many businessmen cooperate with Mortgage Broker Bristol, who advise them on mortgage issues. And when one guy came to me to order the construction of a cottage, I asked him about these consultants. He recommended them to me and gave me a couple of numbers of familiar financial advisers. Since then, I advise all my friends to use such services if they want to take out a loan or mortgage.


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## TauberNewton (7 mo ago)

Mortgage. 5% down payment. This is the best option in my opinion. I recently took out a $150,000 mortgage, and I'm in my fifth month of paying it off. I had a consultation with Mortgage Advisor Liverpool a month ago, and they agreed to lower the interest rate on loan to 2.9%. It was very timely for me because I had a student loan to pay as well. Good thing there's no interest on the student loan. It's literally saving me from hunger right now, haha.


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