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Barry B.
  • Oakland, CA
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51
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construction loans ?

Barry B.
  • Oakland, CA
Posted Jun 3 2017, 23:49

Is there a construction loan expert on the forum ? Besides the fact that I need to talk to one, I have a few questions that other may be able to answer -

  1. What sort of guarantee do banks look for in giving a construction loan ? Can you put up the lot that you are constructing on and/or other property as Collateral ? 
  2. Can someone, not on the title of the lot give a loan guarantee ? 
  3. Is it OK for an LLC to own the lot and get the loan against the LLC, maybe with a personal guarantee ?
  4. Anything else the lenders look for, besides the credit history etc to approve a loan ?

Thanks in advance for your input.

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