Investment loan lenders in Sevierville County

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Investment loan lenders in Sevierville County

Kyle Smith
New to Real Estate · Member since 2020 · 220 posts · 107 votes

I’m not sure if this is the correct forum for Investment Construction loans but I’m currently looking for the best terms possible on my investment cabin build in Gatlinburg. I’m seeking out a 85%/15% investment loan with the best terms and rates possible. I know there are plenty banks in the area doing 80 & 75% loans but I’m looking for an 85/15.

Anyone know of any investment lenders in the area doing 85/15 loans?

Thanks

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Robin SimonBusiness Member
Lender · Austin, TX · Member since 2022 · 5k+ posts · 4k+ votes
2y
Quote from @Kyle Smith:

So, I built my first cabin in gatlinburg last year and now looking to build the second one with an investment construction loan or a one time construction to perm loan.  I would like to reopen this discussion if possible.   My property is very expensive so I’m hoping to find one with 15% down vs 20%.  Cabin will be built in Gatlinburg TN. 


Is this a true "cabin" or would it be more of a true residence just with "cabin-style" design. This is going to be a linchpin on your options - if its more of a house with cabin styling - then its going to open up a lot of national lending options (DSCR Lenders) that typically can only finance properties that could otherwise be used as a normal SFR (vs. a true vacation-only log cabin)

[email protected]
Harpoon Capital514 Reviews
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  • Nick BelskyBusiness Member
    Lender · Orlando, FL · Member since 2021 · 1k+ posts · 704 votes
    5y

    @Kyle Smith

    Are you purchasing under an LLC or as a private investor?

    If in an LLC, I have two lenders who will do a commercial New Construction loan for as little as 90% LTC.

    Unfortunately, I do not have any new construction lenders in TN who will lend outside of an LLC.

    Let me know and we can see if you fit into the guidelines as under an LLC.

    Cheers!

    Nick Belsky

    [email protected]
    Belsky Mortgage, LLC522 Reviews
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    0Reply
  • Jared Smith
    Atlanta, GA · Member since 2015 · 2 posts · 0 votes
    4y
    Quote from @Nick Belsky:

    @Kyle Smith

    Are you purchasing under an LLC or as a private investor?

    If in an LLC, I have two lenders who will do a commercial New Construction loan for as little as 90% LTC.

    Unfortunately, I do not have any new construction lenders in TN who will lend outside of an LLC.

    Let me know and we can see if you fit into the guidelines as under an LLC.

    Cheers!

    Nick Belsky


     @Nick Belsky can you please share those commercial lenders? 

    thank you!

    0Reply
  • Kyle Smith
    OP
    New to Real Estate · Member since 2020 · 220 posts · 107 votes
    2y

    So, I built my first cabin in gatlinburg last year and now looking to build the second one with an investment construction loan or a one time construction to perm loan.  I would like to reopen this discussion if possible.   My property is very expensive so I’m hoping to find one with 15% down vs 20%.  Cabin will be built in Gatlinburg TN. 

    0Reply
  • Robin SimonBusiness Member
    Lender · Austin, TX · Member since 2022 · 5k+ posts · 4k+ votes
    2y
    Quote from @Kyle Smith:

    So, I built my first cabin in gatlinburg last year and now looking to build the second one with an investment construction loan or a one time construction to perm loan.  I would like to reopen this discussion if possible.   My property is very expensive so I’m hoping to find one with 15% down vs 20%.  Cabin will be built in Gatlinburg TN. 


    Is this a true "cabin" or would it be more of a true residence just with "cabin-style" design. This is going to be a linchpin on your options - if its more of a house with cabin styling - then its going to open up a lot of national lending options (DSCR Lenders) that typically can only finance properties that could otherwise be used as a normal SFR (vs. a true vacation-only log cabin)

    [email protected]
    Harpoon Capital514 Reviews
    WebsiteView Page
    11Reply
  • Kyle Smith
    OP
    New to Real Estate · Member since 2020 · 220 posts · 107 votes
    2y
    Quote from @Robin Simon:
    Quote from @Kyle Smith:

    So, I built my first cabin in gatlinburg last year and now looking to build the second one with an investment construction loan or a one time construction to perm loan.  I would like to reopen this discussion if possible.   My property is very expensive so I’m hoping to find one with 15% down vs 20%.  Cabin will be built in Gatlinburg TN. 


    Is this a true "cabin" or would it be more of a true residence just with "cabin-style" design. This is going to be a linchpin on your options - if its more of a house with cabin styling - then its going to open up a lot of national lending options (DSCR Lenders) that typically can only finance properties that could otherwise be used as a normal SFR (vs. a true vacation-only log cabin)


    We typically call them cabins in Sevier County but it’s really a house.  I will be putting it on a short term rental program managing it myself.   

    0Reply
  • Logan Singleton
    Lender · Boston, MA · Member since 2023 · 415 posts · 95 votes
    2y

    Hi Kyle I have sent you a PM

    0Reply
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