Hi BP Folks!
I am writing to see if y'all can point me to some resources. I have a lot in St. Johns, Portland under contract subject to financing that I'm looking to build a new home on. We've run the numbers and there appears to be a good 50K in profit. I have a house builder and all contractors lined up and am looking for a land and construction loan of $240K with $60K available as a down payment (25%) with the land as security.
Can folks recommend lenders that could help me put this deal together?
I have a contact with a lender that specializes in new construction and land loans. Call Banner Bank and ask for Lenny Severs. Best of luck!
Hey Jordan, I asked around some friends and found two options for you. I haven't personally used either one, but they come highly recommended. Shoot me a PM and I'll send them your way.
Best of luck on your build!