Seeking Hard Money Lender
My wife and I are planning to build a house this spring, We have been pre approved by GreenStone for up to $400,000.00 and our loan officer has been extremely slow and unresponsive. The house will cost around $200,000.00 to build, estimated time to complete the build is one year. We originally wanted to break ground Fall 2020 but due to lack of response from the agent, we weren't able to. We put the process on hold for the winter as we weren't going to be able to start with the cold weather - we are also expecting so we prioritized baby over house for the time. We're shifting our focus on getting the loan and starting the build but are having the same issue with the agent. Our next step is to speak to Greenstone and get a new agent but I've started to think about approaching a hard money lender or private lender vs. Greenstone. We went with Greenstone initially because they are the only lender in our area that will provide DIY loans but since it's been such a disappointment so far, I'd prefer to go with a private/hard money lender. Does anyone have advice on initiating contact with a private/hard money lender in my area? We are in SE Michigan and own a 2.5 acre plot. We've done all of the legwork for the build, received quotes and sworn statements for material and labor. We perked the land and found out that we have to do an engineered field and have those plans paid for and ready to go. Our plan after the build is complete is to refinance with a mortgage company, with 30 year mortgage. We are new to the process so any tips on how to get started working with a hard money lender are greatly appreciated.