"Construction Loan" recommendations

Guifre Mora
Lender · San Diego, CA · Member since 2019 · 874 posts · 355 votes
6y
@Amit Saini did you find a lender?
0 Reply
Amit Saini
OP
San Mateo, CA · Member since 2015 · 61 posts · 30 votes
6y
Tried LendingOne, too high at 9%. May opt to use HELOC.
0 Reply
Guifre Mora
Lender · San Diego, CA · Member since 2019 · 874 posts · 355 votes
6y
@Amit Saini 9% seems to be a hard money loan. There are other lenders with lower rates for construction in CA
0 Reply
Jo-Ann LapinPro Member
Loan Officer · Tustin, CA · Member since 2015 · 3k+ posts · 713 votes
6y
Sounds like a exciting project. Hml could be a good option for you .
[email protected]
1 Reply
Robert ChuangPro Member
Realtor · Arcadia, CA · Member since 2014 · 145 posts · 46 votes
6y
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
0 Reply
Edwin De leon
Investor · bronx, NY · Member since 2008 · 265 posts · 42 votes
6y
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.

0 Reply
Amit Saini
OP
San Mateo, CA · Member since 2015 · 61 posts · 30 votes
6y
I ended up going the HELOC route and avoided construction loan.
0 Reply

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