"Construction Loan" recommendations

[Amit Saini]

Looking for bank recommendations for a construction loan to convert a 2-plex into a 4-plex.

Thanks!

[Guifre Mora]

@Amit Saini did you find a lender?

[Amit Saini]

Tried LendingOne, too high at 9%. May opt to use HELOC.

[Guifre Mora]

@Amit Saini 9% seems to be a hard money loan. There are other lenders with lower rates for construction in CA

[Jo-Ann Lapin]

Sounds like a exciting project. Hml could be a good option for you .

[Robert Chuang]

Originally posted by @Guifre Mora:

@Amit Saini 9% seems to be a hard money loan. There are other lenders with lower rates for construction in CA

 Hello Amit, Do you have any connection for anyone thats in lower rate? Seems like everyone now wants a hard money loan rate lol

Thanks.

Robert

[Edwin De leon]

Robert Chuang .... 

How much skin in the game do you have to contribute, what is your personal and business credit score, what blemishes do you have on record that will come up when lenders review your file and start digging up the good and bad on your file 

looking for bank recommendations for a construction loan to convert a 2-plex into a 4-plex.

[Amit Saini]

I ended up going the HELOC route and avoided construction loan.