Construction financing Philly

11 Replies

Have a few properties I own cash in Philadelphia that I’ll be developing. Any recommendations for construction loans? These are

Multi family flips. May keep a couple long term

Thanks!

Hey Mayer,

I have found Meridian Bank to be extremely easy to work with on construction/renovation in Philly. For my draws, they drive by, take pictures, and release the next day. I can give you my banker's contact info if you want.

Spring Garden Lending is fast and easy but you can go to any of the local banks and credit unions and get great rates. Hyperion, Sun Federal, etc. I can also introduce you via email to several larger ones as well. 

@Sean Mattis

thanks Sean!

Just looked them up, rates starting at 11%? Sounds crazy to me.

I should have no issue getting traditional construction financing at competitive rates