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Updated over 1 year ago on . Most recent reply

User Stats

96
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73
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Matt Pursley
  • Investor
  • Greensboro, NC
73
Votes |
96
Posts

New Construction Loan?

Matt Pursley
  • Investor
  • Greensboro, NC
Posted

My partner and I just bought 25 lots in a great area all with city water and sewer. We've already started clearing the land and are looking for a good lender for new construction.

Market rate is going somewhere between 9.5-12% interest only payments and most do 100% of construction cost (we already bought and started clearing/grading)


We would've preferred to go private money but the private lenders we usually use are all tied up in other projects. Any bank recommendations for a good and easy draw process?

  • Matt Pursley
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