Lenders for Duplex/ 2 Family Condo Construction Loan Massachusetts

[Suhas T.]

Are there any banks, credit unions, or financial institutions that offer construction loans for a 2-family duplex in Massachusetts, specifically for investment purposes? I'm not looking for hard money lenders. I've already contacted a dozen banks and credit unions, but most only offer duplex construction loans if the property is owner-occupied. I’d really appreciate any leads or recommendations!

[Minh Duong]

@Suhas T. Yeah, finding lenders for investment property construction can be tough since so many stick to owner-occupied deals. You're definitely not alone.

That said, you might have better luck with local or regional banks that have more flexibility, especially ones that do a lot of business lending. Also worth checking out some portfolio lenders or community development financial institutions (CDFIs) may be open to it, depending on the location and your track record. You're right to steer clear of hard money unless it's super short-term — the rates and fees usually kill the deal.

I also know a couple of portfolio lenders that can help, so let me know.