Looking for a construction loan for a spec homes in the Bay Area. This will be a complete demo and rebuild and looking for a 80% LTC. I am already speaking to Avid Bank and Fremont Bank. What other bank gives such construction loan? Thanks in advance.
Are you looking for 80% LTV on Performa (ARV in the fix-upper language)? Typically bank don't land that high on construction loan, but if that's your primary residence and your household income qualified, you might have a little chance if you have good relationship with the bank. That's how we do it with our previous house in Los Angeles area. Feel free to reach out to me if you need more details.